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Sept 8 (Reuters) - Hikma Pharmaceutical Plc said itwould buy nearly the entire share capital of EIMC UnitedPharmaceuticals, a drugmaker specialising in oncology products,from a consortium of shareholders to boost its position in theEgyptian market.
The Jordanian company did not disclose the value of thedeal, which comes just months after its large-ticket purchase ofBoehringer Ingelheim's U.S. generic drugs business.
The healthcare industry has seen a string of mergers andacquisitions since the beginning of 2014, including largedrugmakers buying smaller rivals, consolidation among makers ofgeneric medicines and tie-ups between insurers.
Hikma, which makes and markets branded and non-brandedgeneric and injectable drugs, said the EIMC deal would help itincrease its market share in Egypt, where it is currently theeleventh largest pharmaceutical manufacturer, with a marketshare of about 2 percent.
The deal also gives it access to a portfolio and a pipelineof opportunities in oncology and injectables, with the potentialto add around 50 products by 2020, Hikma said.
"Across the group, expansion in the areas of oncology andinjectables are key strategic priorities and I am very pleasedto be developing our capabilities in the Middle East and NorthAfrica region," Hikma Vice Chairman and MENA Chief ExecutiveMazen Darwazah said in a statement.
Shares in the FTSE-100 company were up about 1.3 percent at2392 pence at 0739 GMT in early trading on Tuesday. (Reporting by Esha Vaish in Bengaluru; Editing by GopakumarWarrier and Anupama Dwivedi)