Just over a month after beginning a strategic review, Hikma Pharmaceuticals has decided to keep hold of its global injectables business.
When the Jordan-based drugmaker unveiled financial results for 2012 in March, it noted "a significant amount of interest" shown in the business by third parties. However, chief executive Said Darwazah said that "after a thorough review…we are confident that retaining and continuing to invest in this business is the best option for shareholders".
He added that injectables offer "excellent long-term growth prospects and will remain an integral part of our overall growth strategy". By retaining the unit, "we will also continue to benefit from our diversified business model", which includes its oral generics unit in the USA "and our extensive presence and experience in the Middle East and North Africa", Mr Darwazah concluded.
Hikma's board said it is "confident in management’s ability to continue to execute its injectables growth strategy", noting that the business "is performing very well". Last year, the unit's sales soared 48.9% to $470 million, with strong performances shown in the USA and Europe as well as in the Middle East and North Africa.