logo
Plus   Neg
Share
Email

Hikma Pharma To Acquire Assets Of Bedford Laboratories - Quick Facts

Hikma Pharmaceuticals PLC (HIK.L, HKMPY.PK) announced that it has signed an asset purchase agreement with Ben Venue Laboratories, Inc., a member of the Boehringer Ingelheim Group of Companies, to acquire assets of Bedford Laboratories, its US generic injectables business, for a total consideration of up to $300 million, which will be satisfied through an upfront cash payment of $225 million. A further $75 million in contingent cash payments will be paid, subject to the achievement of performance-related milestones, over a period of five years, Hikma said.

Hikma is acquiring Bedford's assets, including a large product portfolio, intellectual property rights, contracts for products marketed under license, raw material inventories, R&D and business development pipeline and a number of employees across key business functions.

Hikma has entered into an exclusivity arrangement with the Boehringer Ingelheim Group to potentially acquire substantially all of the assets of the Ben Venue manufacturing facility in Bedford, Ohio.

Hikma said the acqusition would be slightly dilutive to adjusted earnings per share in 2014 and 2015, with strong EPS accretion thereafter as the acquired products are re-introduced to the market.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Reigniting concerns about a global trade war, President Donald Trump announced plans to impose new tariffs on billions of dollars worth of Chinese imports on Friday. Trump said in a statement the U.S. will implement a 25 percent tariff on $50 billion of goods from China that contain "industrially significant technologies." Investors may want to take note of shares of school bus maker Blue Bird Corp. (BLBD) that are 17% off their 52-week high of $24.99, and at an attractive price point. Significant growth potential in Alternative-Fuel offerings, product differentiation & upgrades, compelling industry attributes, growing profitability, rising interest in Electric Buses, and strong Free cash flow generation make this s A full-time minimum wage worker cannot afford a two-bedroom rental apartment anywhere in the U.S. despite the increase in state and city minimum wages, according to report from the National Low Income Housing Coalition or NLIHC. The NLIHC's "Out of Reach" 2018 annual report calculates the gap between wages and the costs of rental housing across the U.S.
Follow RTT