Hikma - In Favour, But In Debt

In October 2007 BMI reported on Jordanian drugmaker Hikma Pharmaceuticals' bid for local rival Arab Pharmaceutical Manufacturing Company (APM). December 2007 saw the bid accepted; however, the cost to Hikma was a heavy burden of debt, as the US$163.6 deal was financed largely through borrowings. The APM move ended a busy two years for Hikma, which has seen the acquisitions of Egypt's Alkan Pharma and Germany's Riboserpharm and the purchase of the outstanding 52.5% stake in Saudi Arabian subsidiary Al Jazeera Pharmaceuticals Industries

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