Hikma Pharmaceuticals

The company was founded in 1978 by Samih Darwazah in Amman, Jordan. In August 1996 it became the first Arab company to export pharmaceutical products to the United States. It was first listed on the London Stock Exchange in 2005. Recent acquisitions include Instituto Biochimico Pavese Pharma in Italy in 2005 and Jazeera Pharmaceutical Industries in Saudi Arabia in 2006. In 2007 the Company went on to buy APM in Jordan, Alkan Pharma in Egypt, APM and Al Jazeera Pharma in Saudi Arabia, Thymoorgan in Germany, and Ribosepharm in Germany. It started to acquire Baxter Healthcare Corporation's US generic injectables business, Multi-Source Injectables or MSI, and completed the transaction in May 2011.In October 2011, Hikma Pharmaceuticals entered the Moroccan market through the acquisition of Promopharm, the ninth largest pharmaceutical manufacturer in Morocco. Hikma also inaugurated the Al Dar Al Arabia Pharmaceutical Manufacturing Company in Algeria in 2011. The Algerian pharmaceutical company is Hikma’s second venture in Algeria after Hikma Pharma Algeria.In 2011 the company won the ICSA / Hermes Transparency in Governance Award for the best audit disclosure for a FTSE 250 company.Hikma expanded its existing presence in the Egyptian market through the acquisition of the Egyptian Company for Pharmaceuticals and Chemical Industries in 2012. In September 2013, Hikma announced expansion into Sub-Saharan Africa with a 50:50 joint venture agreement with MIDROC Pharmaceuticals Limited, to enter the Ethiopian pharmaceutical market.On 28 May 2014, Hikma Pharmaceuticals agreed to acquire assets from the U.S. generic injectable drugs business of Germany's Boehringer Ingelheim for up to $300 million, boosting its presence in the injected medicine market.In June 2020, Boehringer announced it would sell off part of its stake in London-listed Hikma Pharmaceuticals for around $800 million.