LONDON (dpa-AFX) - Hikma Pharmaceuticals Plc. (HIK.L) Wednesday said it has concluded a strategic review of its global Injectables business and has determined that this business should remain part of the company. The stock is falling 4 percent in morning trade.
The firm had said on March 1 that after receiving unsolicited enquiries, it was undertaking a review of the strategic options for the business.
Hikma said its Board has noted the significant amount of interest shown in its Injectables business by third parties. This shows the attractiveness of the global injectables market and the strength of the business.
'The Board believes that Hikma is uniquely positioned to create significant further value by retaining this business and leveraging its high quality manufacturing facilities, broad product portfolio, attractive R&D pipeline and global distribution platform,' the company said in a statement.
According to the company's board, Hikma's Injectables business is performing very well and the Board is confident in the management's ability to continue to execute its Injectables growth strategy.
Darwazah, CEO of Hikma, said, 'After a thorough review of strategic options for the Injectables business, we are confident that retaining and continuing to invest in this business is the best option for shareholders.'
Darwazah believes that Injectables offers excellent long-term growth prospects and by retaining it, the firm will continue to benefit from its diversified business model.
This diversified business model combines the global Injectables business with the oral generic business in the U.S.
HIK.L is currently dropping 4 percent or 39 pence at 936 pence.
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