AMMAN — Local medicines manufacturer,
Hikma Pharmaceuticals
PLC, said Monday that it has agreed to buy Custopharm Inc. for $375 million,
and add a further $50 million upon achieving certain “commercial milestones”,
according to the Jordan News Agency, Petra.
اضافة اعلان
The London Stock Exchange-listed pharmaceutical group said
that the US-based supplier of injectable medicines complements its product
portfolio and pipeline, and enhances its R&D capabilities.
In a statement, the company said that the acquisition, to be
funded from existing cash resources, also strengthens its platform for future
growth, as Hikma expects Custopharm to generate revenue in excess of $80
million this year.
"With this acquisition, Hikma will have a differentiated
US portfolio of close to 130 injectable medicines, a more than fivefold
increase over the last decade,” the statement read.
“Through this broad portfolio and by combining Custopharm's
strong R&D capabilities with our high-quality and extensive manufacturing
footprint, we will be in an excellent position to better serve the growing
needs of hospitals, doctors and patients," the statement added.
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