Hikma to buy Ben Venue's Bedford Labs for up to $300m
This article was originally published in Scrip
Hikma Pharmaceuticals is to buy Bedford Laboratories, the US generic injectables business of Ben Venue Laboratories, which is part of Boehringer Ingelheim. Hikma will pay $225m up front and a further $75m in contingent cash payments if certain performance-related milestones, over a period of five years, are achieved.
You may also be interested in...
Hikma has agreed to acquire US sterile injectables specialist Custopharm in a deal that includes a $375m upfront purchase price and a further $50m in milestone payments. The transaction is set to bolster Hikma’s near-$1bn injectables business that currently accounts for around two-fifths of turnover.
Jordan's Hikma claims to be a more balanced generics company after the Roxane acquisition, and expects 2017 approval of an Advair Diskus generic, but delays in US generic approvals held back profits in the 2016 first half.
The UK's main reimbursement bodies made a series of decisions this week that were broadly favorable and largely focused on oncology medicines.