Acquisition

RNS Number : 8888R

Hikma Pharmaceuticals Plc

17 September 2014

 



PRESS RELEASE

Hikma completes acquisition of Ben Venue manufacturing site

London, 17 September 2014 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has completed its acquisition of substantially all of the assets of the generic injectables manufacturing site of Ben Venue Laboratories, Inc. ("Ben Venue"), part of the Boehringer Ingelheim Group of Companies, as agreed on 24 July 2014.

The Ben Venue site includes four manufacturing plants and a state-of-the-art Quality and Development Centre ("QDC").  The QDC, which includes a R&D pilot plant, will significantly strengthen Hikma's existing R&D capabilities and support the development of a strong future pipeline.  The four manufacturing plants are not currently in use.  Hikma will transfer certain modern, advanced equipment to significantly increase capacity at its other manufacturing facilities in the United States and Europe.

Said Darwazah, Chairman and Chief Executive Officer of Hikma commented:

"I am very pleased to be acquiring the Ben Venue manufacturing site, which will significantly enhance our R&D capabilities and enable us to expand future capacity.  This reflects our commitment to the long term growth of our global Injectables business and will create significant strategic value."

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Enquiries

Hikma Pharmaceuticals PLC                                                       

Susan Ringd al, VP Corporate Strategy and Director of Investor Relations [phone]/ [phone]

Lucinda Henderson, Deputy Director of Investor Relations                              [phone]/ [phone]

FTI Consulting                                                                                  

Ben Atwell/ Matthew Cole/ Julia Phillips                                                                 [phone]

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products.  Hikma operates through three businesses: "Branded", "Injectables" and "Generics", based principally in the Middle East and North Africa ("MENA"), where it is a market leader, the United States and Europe.  In 2013, Hikma achieved revenues of $1,365 million and profit attributable to shareholders of $212 million. 

 

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