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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT