Hikma Pharmaceuticals Plc Acquisition (8888R)
September 17 2014 - 2:02AM
UK Regulatory
TIDMHIK
RNS Number : 8888R
Hikma Pharmaceuticals Plc
17 September 2014
PRESS RELEASE
Hikma completes acquisition of Ben Venue manufacturing site
London, 17 September 2014 - Hikma Pharmaceuticals PLC ("Hikma")
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing
multinational pharmaceutical group, today announces that it has
completed its acquisition of substantially all of the assets of the
generic injectables manufacturing site of Ben Venue Laboratories,
Inc. ("Ben Venue"), part of the Boehringer Ingelheim Group of
Companies, as agreed on 24 July 2014.
The Ben Venue site includes four manufacturing plants and a
state-of-the-art Quality and Development Centre ("QDC"). The QDC,
which includes a R&D pilot plant, will significantly strengthen
Hikma's existing R&D capabilities and support the development
of a strong future pipeline. The four manufacturing plants are not
currently in use. Hikma will transfer certain modern, advanced
equipment to significantly increase capacity at its other
manufacturing facilities in the United States and Europe.
Said Darwazah, Chairman and Chief Executive Officer of Hikma
commented:
"I am very pleased to be acquiring the Ben Venue manufacturing
site, which will significantly enhance our R&D capabilities and
enable us to expand future capacity. This reflects our commitment
to the long term growth of our global Injectables business and will
create significant strategic value."
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringd al, VP Corporate Strategy and Director of Investor
Relations +44 (0)20 7399 2760/ +44 7776 477050
Lucinda Henderson, Deputy Director of Investor Relations +44
(0)20 7399 2765/ +44 7818 060211
FTI Consulting
Ben Atwell/ Matthew Cole/ Julia Phillips +44 (0)20 3727 1000
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group
focused on developing, manufacturing and marketing a broad range of
both branded and non-branded generic and in-licensed products.
Hikma operates through three businesses: "Branded", "Injectables"
and "Generics", based principally in the Middle East and North
Africa ("MENA"), where it is a market leader, the United States and
Europe. In 2013, Hikma achieved revenues of $1,365 million and
profit attributable to shareholders of $212 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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