REG - Hikma Pharmaceutical - Acquisition

Hikma PharmaceuticalsAnnouncement

21/04/2022 14:30

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RNS Number : 9435I  Hikma Pharmaceuticals Plc  21 April 2022

 

London, 21 April 2022 - Hikma Pharmaceuticals PLC (Hikma), the multinational
pharmaceutical company, today announces that it has completed its acquisition
of Custopharm Inc. ('Custopharm') from Water Street Healthcare Partners
('Water Street'), following approval from the US Federal Trade Commission.

 

As previously announced on 27 September 2021, Hikma has acquired Custopharm
for an initial cash consideration of $375 million on a debt and cash-free
basis, with a further $50 million in contingent consideration payable upon the
achievement of certain commercial milestones.

 

Hikma is the second-largest supplier by volume of generic sterile injectable
medicines used by US hospitals and health care providers. The combination with
Custopharm enhances Hikma's R&D capabilities and pipeline and expands
Hikma's differentiated US portfolio to close to 130 commercialised injectable
medicines - a more than fivefold increase over the last decade.

 

Transaction highlights and strategic rationale:

 

·    Complements Hikma's product portfolio and pipeline, adding up to 13
approved products and additional pipeline products

 

·    Enhances Hikma's R&D capabilities, adding an experienced
scientific team of dedicated R&D professionals with a proven ability to
develop and commercialise complex sterile injectable products and a
state-of-the-art R&D laboratory in California

 

·    Maintains Hikma's strong regulatory track record. Custopharm has
consistently obtained regulatory approval for new products with four
first-to-market FDA ANDA approvals, including one CGT exclusivity for
Calcitonin Salmon, which was launched in May 2021

 

Siggi Olafsson, Chief Executive Officer of Hikma, commented:

 

"The acquisition of Custopharm immediately strengthens our already strong US
injectables business by adding an attractive and profitable portfolio of
marketed products, an exciting pipeline of future opportunities, and a
first-class scientific team with a strong regulatory track record. This
acquisition is highly complementary to our existing business and places us in
an excellent position to better serve the growing needs of hospitals, doctors
and patients. I am excited to welcome the team at Custopharm to Hikma as we
continue to grow and strengthen our Injectables business."

 

 

- ENDS -

 

Enquiries:

Hikma (Investors):

 Susan Ringdal                                                              +44 (0)20 7399 2760/ +44 (0)7776 477050

 EVP, Strategic Planning and Global Affairs
 Guy Featherstone                                                           +44 (0)20 3892 4389/ +44 (0)7795 896738

 Senior Investor Relations
 Manager
 Layan Kalisse                                                              +44 (0)20 7399 2788/ +44 (0)7970 709912

 Investor Relations Analyst

 

Teneo (Press):
 

 Charles Armitstead/Camilla Cunningham  +44 (0)7703 330 269/ +44 (0)7464 982426

 US Media

 Steven Weiss/David Belian

                                        +1 732 788 8279/ +1 848 254 4875

About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and
BBB-/stable Fitch)

Hikma helps put better health within reach every day for millions of people
around the world. For more than 40 years, we've been creating high-quality
medicines and making them accessible to the people who need them.
Headquartered in the UK, we are a global company with a local presence across
the United States (US), the Middle East and North Africa (MENA) and Europe,
and we use our unique insight and expertise to transform cutting-edge science
into innovative solutions that transform people's lives. We're committed to
our customers, and the people they care for, and by thinking creatively and
acting practically, we provide them with a broad range of branded and
non-branded generic medicines. Together, our 8,700 colleagues are helping to
shape a healthier world that enriches all our communities. We are a leading
licensing partner, and through our venture capital arm, are helping bring
innovative health technologies to people around the world. For more
information, please visit: www.hikma.com
(https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2531421-1%26h%3D3823969217%26u%3Dhttp%253A%252F%252Fwww.hikma.com%252F%26a%3Dwww.hikma.com&data=02%7C01%7Csweiss%40Hikma.com%7C4a35048c8c764c63c86308d70efbac9e%7C178c1a723d3c40afbaa754615303bcdc%7C0%7C1%7C636994346427346162&sdata=lHZaoOb0u30Y6re6yfLW1Ar4vvBS%2FnjEUNdB00TBaTI%3D&reserved=0)

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