Business
Hikma Acquires Products from Boehringer Ingelheim
Hikma Acquires Products from Boehringer Ingelheim.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n \nRNS Number : 3688W Hikma Pharmaceuticals Plc 14 November 2017 \n\n \n \n \nPRESS RELEASE\n \n \nHikma acquires products in Europe from Boehringer Ingelheim\n \nLondon, 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.\n \nHikma 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.\n \nThe 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.\n \n-- ENDS --\n \nEnquiries\nHikma Pharmaceuticals PLC\nSusan Ringdal, VP Corporate Strategy and Investor Relations +44 (0)20 7399 2760/ +44 7776 477050\nLucinda Baker, Deputy Director of Investor Relations +44 (0)20 7399 2765/ +44 7818 060211\nFTI Consulting\nBen Atwell/ Brett Pollard +44 (0)20 3727 1000\n \n \nAbout Hikma\nHikma 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...