Plus   Neg

Hikma Confirms Non-binding Term Sheet To Acquire GSK's Certain Assets In Egypt, Tunisia

Hikma Pharmaceuticals PLC (HIK,HIK.L) confirmed Tuesday that it has entered into a non-binding term sheet with GlaxoSmithKline S.A.E. or GSK SAE, the Egyptian subsidiary of GlaxoSmithKline plc (GSK,GSK.L).

The term sheet is for 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.

Hikma said 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 deal.

The 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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. recalled about 15,800 units of Off-Road and Utility Vehicles in North America for possible crash hazard, according to a statement issued by the U.S. Consumer Product Safety Commission. There were also an additional 711 units sold in Canada. AstraZeneca's efforts to supply Covid-19 vaccine doses from its Italian unit to Australia has been blocked by the European Union and the Italian Government, citing Australia being non-vulnerable region and delays in domestic supply, among others. Italy's proposal to deny AstraZeneca's request for authorization to export COVID-19 vaccines was subsequently approved by the European Commission. Chipotle Mexican Grill, Inc. is teaming with e.l.f. Cosmetics to launch a limited edition beauty collection on March 10, aiming to support plant-based lifestyles and responsibly-sourced products. The e.l.f. x Chipotle makeup collection will comprise cruelty-free and vegan products inspired by Chipotle's responsibly-raised food.
Follow RTT