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news.Hikma Pharmaceuticals has decided to take over minority interest in Unimark Remedies, a manufacturer of active pharmaceutical ingredients (API) and API intermediates, through the subscription of new equity for a cash consideration of $33.3m.
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The transaction will be funded by a combination of cash and existing debt financing.
Hikma CEO Said Darwazah said through this strategic partnership, Hikma and Unimark will collaborate on the development of strategic APIs and ANDAs.
"Unimark’s 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," Darwazah said.
The transaction is subject to certain conditions precedent and is expected to close in mid-May.