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Hikma and Unimark Cooperate Through a Strategic Partnership in London

London Remedies Limited (“”) will offer a minority interest to Pharmaceuticals (“”), the fast growing multinational pharmaceutical group through the subscription of new equity for a cash consideration of $33.3 million. Unimark, a privately held company, is one of India’s leading manufacturers of active pharmaceutical ingredients (“”) and API intermediates. Three API facilities in India are managed by Unimark, two of which is US FDA approved, and two R&D centers.

“Through this strategic partnership, Hikma and Unimark will collaborate on the development of strategic APIs and ANDAs. 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. Unimark has an excellent reputation for quality and we look forward to working with their experienced management and operational teams” commented Said Darwazah, CEO of Hikma.

Mehul Parekh, Managing Director of Unimark said “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 is amongst the world’s leading generic companies with a strong presence in the MENA, US and European markets. We look forward to working with Hikma to nurture a mutually beneficial and long term partnership”.

The deal is subjected to certain conditions and is expected to close in mid-May. A combination of cash and existing debt financing will be the investor.

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