Hikma Acquires Products from Boehringer Ingelheim
PRESS RELEASE
Hikma acquires products in Europe from Boehringer Ingelheim
London, 14 November 2017 - Hikma Pharmaceuticals PLC (Hikma) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody's / BB+ S&P, both stable), the multinational pharmaceutical group, announces that it has acquired six products from Boehringer Ingelheim GmbH (Boehringer Ingelheim). Boehringer Ingelheim is a related party of Hikma for the purposes of the UKLA Listing Rules (LRs) by virtue of its 17% shareholding in Hikma.
Hikma has acquired five products in Germany, Alupent, Gastrozepin, Paracefan, Partusisten and Spiropent and one product, Mantadan, in Italy, together with inventory at closing and the supply by Boehringer Ingelheim of a stockpile of the products to cover a transition period of 20 months, for an aggregate consideration of €3 million.
The acquisition is a smaller related party transaction under LR 11.1.10R and a sponsor's written confirmation has been obtained stating that the arrangements are fair and reasonable as far as Hikma's shareholders are concerned.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, VP Corporate Strategy and Investor Relations +44 (0)20 7399 2760/ +44 7776 477050
Lucinda Baker, Deputy Director of Investor Relations +44 (0)20 7399 2765/ +44 7818 060211
FTI Consulting
Ben Atwell/ Brett Pollard +44 (0)20 3727 1000
About Hikma
Hikma Pharmaceuticals PLC is a 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: 'Injectables,' 'Generics' and 'Branded, based principally in the United States, the Middle East and North Africa (MENA) and Europe. In 2016, Hikma achieved revenue of $1,950 million and profit attributable to shareholders of $155 million. For more information visit www.hikma.com.
About Boehringer Ingelheim
Innovative medicines for people and animals have for more than 130 years been what the research-driven pharmaceutical company Boehringer Ingelheim stands for. Boehringer Ingelheim is one of the pharmaceutical industry's top 20 companies and to this day remains family-owned. Day by day, some 50,000 employees create value through innovation for the three business areas human pharmaceuticals, animal health and biopharmaceutical contract manufacturing. In 2016, Boehringer Ingelheim achieved net sales of around 15.9 billion euros. With more than three billion euros, R&D expenditure corresponds to 19.6 per cent of net sales. More information about Boehringer Ingelheim can be found on www.boehringer-ingelheim.com.
This information is provided by RNS
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