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
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Follow RTT