Last checked at 26 Jan 2021 08:01
London, 26 January 2021 - The Board of Hikma Pharmaceuticals Plc (Hikma) notes the disclosure made today to the Egyptian Exchange by GlaxoSmithKline S.A.E. (GSK SAE), the listed Egyptian subsidiary within the GlaxoSmithKline plc group of companies (GSK). Hikma confirms that it has entered into a non-binding term sheet with GSK for the purposes of potentially acquiring GSK's interests in certain entities that conduct, and certain assets comprising, GSK's pharmaceutical and consumer commercialisation and manufacturing business in Egypt and GSK's pharmaceutical business in Tunisia (the Proposed Transaction).
In addition and subject to receipt of GSK SAE's board consent, Hikma hereby announces that it expects to conduct a due diligence exercise, the results of which will form the basis for further discussions with GSK in connection with the Proposed Transaction.
The Proposed Transaction is subject to a number of conditions, including the finalisation of definitive and legally binding documents and the completion of due diligence by Hikma. As such, there can be no guarantee at this stage that the Proposed Transaction will progress.
Hikma will provide further updates in due course.
Enquiries:
Hikma:
Susan Ringdal EVP, Strategic Planning and Global Affairs | +44 (0)20 7399 2760 / +44 (0)7776 477050 |
Guy Featherstone Senior Investor Relations Manager | +44 (0)20 3892 4389 / +44 (0)7795 896738 |
Layan Kalisse Investor Relations Analyst | +44 (0)20 7399 2788 / +44 (0)7970 709912 |
Teneo (Press):
Charles Armitstead/ Camilla Cunningham, +44 (0)7703 330 269/ +44 (0)7464 982 426
About HikmaHikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI: 549300BNS685UXH4JI75) (rated BBB-/stable S&P, BBB-/stable Fitch and Ba1/stable Moody's)
Hikma helps put better health within reach every day for millions of people in more than 50 countries around the world. For more than 40 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,600 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com.
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