London, 26 January 2021 - The Board of Hikma Pharmaceuticals Plc (Hikma) notes the disclosure made today to the Egyptian Exchange by GlaxoSmithKline S.A.E. (GSK SAE), the listed Egyptian subsidiary within the GlaxoSmithKline plc group of companies (GSK). Hikma confirms that it has entered into a non-binding term sheet with GSK for the purposes of potentially acquiring GSK’s interests in certain entities that conduct, and certain assets comprising, GSK’s pharmaceutical and consumer commercialisation and manufacturing business in Egypt and GSK’s pharmaceutical business in Tunisia (the Proposed Transaction).
26 January 2021
Corporate, Press Release
In addition and subject to receipt of GSK SAE’s board consent, Hikma hereby announces that it expects to conduct a due diligence exercise, the results of which will form the basis for further discussions with GSK in connection with the Proposed Transaction.
The Proposed Transaction is subject to a number of conditions, including the finalisation of definitive and legally binding documents and the completion of due diligence by Hikma. As such, there can be no guarantee at this stage that the Proposed Transaction will progress.
Hikma will provide further updates in due course.