Hikma to buy Egypt's Alkan Pharma for $60.5 mln

LONDON Thu Aug 9, 2007 7:14am BST

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LONDON Aug 9 (Reuters) - Jordanian drugmaker Hikma Pharmaceuticals Plc (HIK.L) said on Thursday it had agreed to buy Alkan Pharma for $60.5 million cash to enter the Egyptian pharmaceuticals market.

Hikma said the deal was scheduled to complete in the second half of this year and would be funded by debt.