Hikma takes US$33.3m stake in Unimark Remedies


Unimark manufactures APIs and intermediates in India

Hikma Pharmaceuticals, the Jordan-based generics group, is paying US$33.3m to take a minority stake in Unimark Remedies, a privately held Indian manufacturer of active pharmaceutical ingredients and intermediates.

The deal is expected to close in the middle of May.

Unimark operates three facilities, two of which are US FDA approved, and two r&d centres, all of which are in India, where it produces betalactams, cephalosporins, carbapenems for the cardiovascular, anti‐asthma and anti‐infectives segments.

Hikma ceo Said Darwazah said: “Unimark’s strong technical and r&d capabilities will complement Hikma’s in‐house R&D efforts and are expected to enable Hikma to bring more products in more therapeutic categories to market globally.”

Mehul Parekh, managing director of Unimark, added: ‘This partnership reaffirms Unimark’s strong capabilities in both the development and manufacturing of APIs and its growing presence in formulations for both emerging and developed markets.’

Hikma’s operations are conducted through three businesses: Branded, Injectables and Generics based mainly in the Middle East and North Africa region, where it is a market leader, the US and Europe. It had sales of US$731m last year.