Hikma bids £80m for Jordanian drug maker

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Hikma Pharmaceuticals has offered $163.6m (£80m) to buy Arab Pharmaceutical Manufacturing, a Jordanian maker of branded generic drugs, it said yesterday.

Hikma is also based in Jordan and has been listed on the London Stock Exchange since 2005. It develops and markets generic and brand-name drugs including folic acid, lithium and a treatment for hypertension. It sells them in the Middle East, North Africa, Europe and the US.

If the acquisition is completed, Hikma would gain 85 products registered in 22 countries and a sales and marketing team of 200 operating in 14 Middle East and North African markets.

The offer is subject to due diligence and the approval of regulators and the target shareholders.