Hikma Buys Promopharm To Enter Morocco

BMI View: Despite the revenue restricting effects of the Arab Spring, the prospects of a second global recession and the Eurozone sovereign debt crisis, BMI believes Hikma Pharmaceuticals' core business activities are relatively shielded from these risks and remain fundamentally strong. Having asserted from the onset of the political unrest in the Middle East and North Africa (MENA) that we believed it could have upside risks for healthcare and pharmaceutical spending in the region, we have seen this view play out. Furthermore, Hikma's aggressive expansion policy is also likely to boost its prospects as it moves into the region's more

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