Gains access to long-term source of APIs for oncology
Hikma Pharmaceuticals, a Jordan-based generics group, has bought a ‘significant minority interest’ in Hubei Haosun Pharmaceutical through the subscription of new equity for US$5m in cash.
Haosun, a privately held Chinese company, develops and manufactures niche, difficult to make active pharmaceutical ingredients (APIs), specialising in oncology. The company operates from a US FDA and EU approved facility in China’s Wuhan province.
Hikma said Haosun’s current product portfolio and development pipeline, which covers a number of therapeutic areas, fits well with its requirements.
Through this partnership, Hikma said it gains access to a high quality, long-term source of APIs, particularly in the strategically important area of oncology.
The deal also demonstrates the continuation of Hikma’s strategy of enhancing its API sourcing and research and development capabilities in key product areas, the company said.
Hikma's operations are conducted through three businesses: Branded, Injectables and Generics, based mainly in the Middle East and North Africa (MENA) region, where it is a market leader, the US and Europe.
In 2010, Hikma achieved a profit of US$99m on revenues of US$731m.