Hikma Pharmaceuticals Plc Acquisition (9435I)
April 21 2022 - 9:15AM
UK Regulatory
TIDMHIK
RNS Number : 9435I
Hikma Pharmaceuticals Plc
21 April 2022
London, 21 April 2022 - Hikma Pharmaceuticals PLC (Hikma), the
multinational pharmaceutical company, today announces that it has
completed its acquisition of Custopharm Inc. ('Custopharm') from
Water Street Healthcare Partners ('Water Street'), following
approval from the US Federal Trade Commission.
As previously announced on 27 September 2021, Hikma has acquired
Custopharm for an initial cash consideration of $375 million on a
debt and cash-free basis, with a further $50 million in contingent
consideration payable upon the achievement of certain commercial
milestones.
Hikma is the second-largest supplier by volume of generic
sterile injectable medicines used by US hospitals and health care
providers. The combination with Custopharm enhances Hikma's R&D
capabilities and pipeline and expands Hikma's differentiated US
portfolio to close to 130 commercialised injectable medicines - a
more than fivefold increase over the last decade.
Transaction highlights and strategic rationale:
-- Complements Hikma's product portfolio and pipeline , adding
up to 13 approved products and additional pipeline products
-- Enhances Hikma's R&D capabilities , adding an experienced
scientific team of dedicated R&D professionals with a proven
ability to develop and commercialise complex sterile injectable
products and a state-of-the-art R&D laboratory in
California
-- Maintains Hikma's strong regulatory track record . Custopharm
has consistently obtained regulatory approval for new products with
four first-to-market FDA ANDA approvals, including one CGT
exclusivity for Calcitonin Salmon, which was launched in May
2021
Siggi Olafsson, Chief Executive Officer of Hikma, commented:
"The acquisition of Custopharm immediately strengthens our
already strong US injectables business by adding an attractive and
profitable portfolio of marketed products, an exciting pipeline of
future opportunities, and a first-class scientific team with a
strong regulatory track record. This acquisition is highly
complementary to our existing business and places us in an
excellent position to better serve the growing needs of hospitals,
doctors and patients. I am excited to welcome the team at
Custopharm to Hikma as we continue to grow and strengthen our
Injectables business."
- ENDS -
Enquiries:
Hikma (Investors):
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 (0)7776
Affairs 477050
Guy Featherstone +44 (0)20 3892 4389/ +44 (0)7795
Senior Investor Relations Manager 896738
Layan Kalisse +44 (0)20 7399 2788/ +44 (0)7970
Investor Relations Analyst 709912
Teneo (Press):
+44 (0)7703 330 269/ +44 (0)7464
982426
Charles Armitstead/Camilla Cunningham
US Media
Steven Weiss/David Belian +1 732 788 8279/ +1 848 254 4875
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable
S&P and BBB-/stable Fitch)
Hikma helps put better health within reach every day for
millions of people around the world. For more than 40 years, we've
been creating high-quality medicines and making them accessible to
the people who need them. Headquartered in the UK, we are a global
company with a local presence across the United States (US), the
Middle East and North Africa (MENA) and Europe, and we use our
unique insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed
to our customers, and the people they care for, and by thinking
creatively and acting practically, we provide them with a broad
range of branded and non-branded generic medicines. Together, our
8,700 colleagues are helping to shape a healthier world that
enriches all our communities. We are a leading licensing partner,
and through our venture capital arm, are helping bring innovative
health technologies to people around the world. For more
information, please visit: www.hikma.com
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END
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