Hikma Enters Moroccan Market

Hikma Pharmaceuticals Plc, a fast growing multinational pharmaceutical group, has acquired 63.9% of Société de
Promotion Pharmaceutique du Maghreb SA, (the company Promopharm) from a consortium of shareholders comprising
existing management, institutions and related parties, for an aggregate cash consideration of $111.2 million (MAD 912.8
million) and will launch a mandatory tender offer for the remaining 36.1% of the Company. With a 3.5% market share
and reporting more than $45 million in annual revenue, Promopharm will deliver a substantial local manufacturing
presence for Hikma in Morocco, which is said to be the fourth largest pharmaceutical market within the MENA group of nations.