Hikma buys Teligent sterile injectable assets to expand in Canada

London-listed Jordanian drugmaker Hikma Pharmaceuticals (LSE: HIK) has agreed to acquire the Canadian assets of Teligent for $45.75 million. The transaction is expected to be completed before the end of the first quarter of 2022.

The acquisition marks Hikma's expansion into Canada and includes a portfolio of 25 sterile injectable products, three in-licenced ophthalmic products and a pipeline of seven additional products, four of which are approved by Health Canada.

Hikma shares advanced 1.6% to 2,089.51 pence on Monday morning in London following the announcement.