FTC puts conditions on Hikma proposed acquisition of Roxane units

Jordon-based drug manufacturer Hikma Pharmaceuticals (LSE: HIK) will sell the rights and assets for two generic drugs, and relinquish its US marketing rights to a third generic drug, in order to settle US Federal Trade Commission charges that Hikma’s proposed acquisition of Roxane from German family-owned pharma major Boehringer Ingelheim would likely be anticompetitive.

Earlier this month Hikma revised the terms for its buy of the Roxane Laboratories unit (The Pharma Letter February 10), reducing the amount it pays Boehringer to a gross consideration of $647 million in cash as opposed to $1.18 billion, a reduction of $535 million.

Accord requires divestment to Renaissance and Unimark