Hikma Pharmaceuticals may not be a Big Pharma, but it has big pharma plans. The Jordan-based company ($HIK) has $300 million earmarked for M&A and organic growth this year, CFO Khalid Nabilsi told Gulf Daily News. Key targets? The Middle East and North Africa.
The company suffered last spring from uprisings all around the region, but it's now anticipating healthcare growth from the leadership that emerged. "The new regimes and governments believe more in social services," Nabilsi said. "[T]hey are committed to investing billions." He's expecting 12% market growth in the region, compared with 2% in Europe.
For Hikma itself, Nabilsi expects sales increases of about 20%, fueled in part by $150 million to $200 million in acquisitions, plus the payoff from $90 million invested in internal growth. "Our focus is going to be on product acquisitions that complement our business," Nabilsi said.
- read the Daily News piece