Hikma Pharmaceuticals to acquire Vietnamese injectable maker Medlac

Mon Nov 12, 2018 - 8:31am UTC
Medlac

Medlac

12/11/2018 – United States top sterile injectable manufacturer Hikma Pharmaceuticals has agreed to make a complete acquisition of Medlac Pharma Italy Co. Ltd based in Vietnam.

Medlac is an Italian-Vietnamese joint venture founded in 2008. The pharmaceutical firm operates an injectable facility in Hanoi that began productions in 2012 and has built a strong reputation as a high-quality manufacturer in areas of anti-infectives and cardiovascular.

Hikma, on the other hand, is a leading manufacturer of generic injectables in the United States and has a growing presence in Europe and MENA.

With this agreement, Hikma will own the injectable facility in Hanoi, an adjacent vacant land, Medlac’s product portfolio of 23 injectable products, its pipeline, and all employees.

This acquisition provides Hikma with a foothold in Vietnam, one of the most dynamic emerging markets in Asia.

“Vietnam is an attractive market with significant growth potential. We are confident that by leveraging Hikma’s global expertise, we can add significant value to Medlac’s business,” said Riad Mechlaoui, the president of Hikma’s injectables division.

Driven by a growing population, government healthcare reforms and strong economic development, Vietnam in recent years has been the fastest growing pharmaceutical market in Southeast Asia with this fast-paced growth expected to continue.

“I’m very pleased to have reached an agreement to acquire Medlac. Vietnam is an attractive market with significant growth potential. We are confident that by leveraging Hikma’s global expertise, we can add significant value to Medlac’s business,” Mechlaoui added.

This news is published on Reuters.

Vivian Foo is a reporter who writes about Southeast Asia’s technology and startup space. The entry point which led her to write about the startup ecosystem was her fascination of the dot-com boom. She is taking a deep dive into how the entrepreneurial mindset works and hopes to share the insights, innovation, and stories of the startups with her readers.