Hikma expands in US generics with planned buy of Boehringer's Roxane
Jordon-based drugmaker Hikma Pharmaceuticals (LSE: HIK) says it has agreed to acquire Roxane Laboratories Inc and Roxane Inc from German family-owned pharma major Boehringer Ingelheim.
Roxane is a well-established US specialty generics company with a highly differentiated product portfolio and best-in-class R&D capabilities. The acquisition will transforms Hikma’s position in the US generics market, establishing Hikma as the sixth largest company by revenue. The new deal builds on the acquisition of Bedford Laboratories from Boehringer in 2014. The news pushed Hikma’s shares 7.8% higher to 162.00 by midday in London trading.
$2.65 billion transaction value
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