Hikma Acquires Egypt’s Alkan

UK drugmaker Hikma Pharmaceuticals announced that it has agreed to acquire the entire issued share capital of Alkan Pharma, an Egyptian pharmaceuticals company, for $60.5 million.

According to Hikma, Alkan develops, manufactures and markets generic pharmaceuticals in both solid and liquid form for the Egyptian market.

Alkan has 175 registered pharmaceutical products, including nearly 60 products under license from leading multinational pharmaceutical companies, Hikma said. The company added that Alkan has 140 products pending registration.

Alkan’s product portfolio spans a number of therapeutic categories, including alimentary and metabolic, musculoskeletal and infectious disease.