logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of thyssenKrupp AG were gaining around 2 percent in the morning trading in Germany after the steel giant Thursday said it expects clearly positive net income and significantly higher adjusted EBIT, a key earnings metric, in fiscal 2018. This was after reporting higher adjusted EBIT, sales and order intake in its fiscal 2017, despite a net loss due to charges. Senator Lisa Murkowski, R-Alaska, has expressed support for repealing Obamacare's individual mandate, a key provision Senate Republicans are hoping to use to offset the cost of their tax reform bill. The Congressional Budget Office estimates repealing the requirement that nearly all Americans purchase... Automotive startup Divergent 3D said that a Chinese-led investment syndicate has agreed to commit up to $107 million in financing through a new investment round. Hong Kong-based investment holding company, O Luxe Holdings Limited, led the investment group, which includes Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies.
comments powered by Disqus
Follow RTT