London-based Hikma Pharmaceuticals is planning to list on the Dubai International Financial Exchange (DIFX) in early April.

The company on 29 March released its full-year 2005 financial results, reporting a 9.1 per cent rise in net profits to $64.4 million.

‘The increased income comes from the three main segments of the business – injectable, branded and generic pharmaceuticals in the Middle East and North Africa region and the US,’ chief executive officer and chairman Samih Darwazah told MEED on 29 March. ‘We are currently considering plans to expand into Eastern Europe, looking at either acquiring new companies or finding new partners, as well as consolidating our businesses in Egypt, Morocco and Turkey.’

In January, Jezeera Pharmaceutical Industries, Hikma’s subsidiary in Saudi Arabia, received approval from the US Food & Drug Administration for the sale of its products in the US.

The company is building three new plants in Portugal, Jordan and Italy which are due to start production in 2007. Hikma’s shares were listed on the London Stock Exchange in late 2005 (MEED 21:10:05).