Combination expands US Injectables portfolio and
pipeline
LONDON, April 21,
2022 /PRNewswire/ -- 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."
Enquiries:
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Hikma (Investors):
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Susan
Ringdal
EVP, Strategic Planning
and Global Affairs
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+44 (0)20 7399 2760/
+44 (0)7776 477050
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Guy
Featherstone
Senior Investor
Relations
Manager
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+44 (0)20 3892 4389/
+44 (0)7795 896738
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Layan
Kalisse
Investor Relations
Analyst
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+44 (0)20 7399 2788/
+44 (0)7970 709912
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Teneo (Press):
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Charles Armitstead/Camilla Cunningham
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+44 (0)7703 330 269/
+44 (0)7464 982426
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US
Media
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Steven Weiss/David
Belian
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+1 732 788 8279/ +1 848
254 4875
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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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SOURCE Hikma Pharmaceuticals USA Inc.