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FINANCIAL NEWS
Hikma pharm acquires US Boehringer unit for USD2.65b
29 Jul 2015
(MENAFN) Jordan’s Hikma Pharmaceuticals said it is buying US generic drugs business of Boehringer Ingelheim for USD2.65 billion in a cash-and-stock deal, Arab News reported.
Hikma Pharmaceuticals, which produces and markets branded and non-branded generic and injectable drugs, said the Boehringer purchase would make it the sixth biggest provider of generic drugs in the US.
The move comes as the Jordanian firm is looking to expand in the US. It strengthened its injectable drugs business there when it bought manufacturing assets from Germany’s Boehringer last year.
“We won’t be the size of Teva and other big companies, but we will be bigger than many other companies that were ahead of us over the last five years,” Hikma CEO Said in a statement.
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