Global drugmaker agrees to acquire Medlac Pharma, an Italian-Vietnamese joint venture with a portfolio of 23 injectable products
Hikma has agreed to acquire 100% of the share capital of Medlac Pharma Italy Co. Ltd. (Medlac), an Italian-Vietnamese joint venture founded in 2008. Medlac Pharma makes injectables from a manufacturing site in Vietnam.
The acquisition includes the injectable facility, adjacent vacant land, Medlacís product portfolio of 23 injectable products, its pipeline and all employees.
Riad Mechlaoui, President of Injectables, commented, ďIím very pleased to have reached agreement to acquire Medlac. Vietnam is an attractive market with significant growth potential. We are confident that by leveraging Hikmaís global expertise, we can add significant value to Medlacís business.Ē
Hikma is a global manufacturer of generic injectables. The company operates in the US, the Middle East and North Africa, and Europe.
This acquisition, Hikma said, provides a foothold in Vietnam, one of the most dynamic emerging markets in Asia.
Driven by a growing population, government healthcare reforms and strong economic development, Vietnam has been the fastest growing pharmaceutical market in South East Asia in recent years and this fast-paced growth is expected to continue.
Medlac operates an injectables facility in Hanoi, Vietnam. Since it commenced operations in 2012, it has built a reputation as a high-quality manufacturer in the areas of anti-infectives and cardiovascular.