Business
Hikma acquires Xellia’s assets
Hikma acquires Xellia’s assets.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n\nHikma acquires Xellia's differentiated portfolio and enhances Injectables pipeline, manufacturing capabilities and R&D\n \nLondon, 17 June 2024 - Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today announces that it has agreed with Xellia Pharmaceuticals, a Copenhagen based specialty company focusing on providing anti-infective treatments and other critical care therapies, to acquire parts of its US finished dosage form (FDF) business and assets, including a commercial portfolio and pipeline of differentiated products, a manufacturing facility in Cleveland, Ohio, sales and marketing capabilities, and an R&D center in Zagreb, Croatia. Hikma will pay a cash consideration of $135 million, and an additional contingent consideration of up to $50 million, subject to the achievement of certain regulatory and commercial milestones.\n \nTransaction highlights and strategic rationale:\n \n· Supports the long-term growth of Hikma's Injectables business \n· Diversifies and enriches Hikma's US injectables portfolio and pipeline, adding a range of ready-to-use (RTU) products, including Vanco Ready®, which was launched in 2019\n· Significantly expands Hikma's high-quality manufacturing capacity. The Cleveland facility is spread over 24 acres and, following a two-to-three-year enhancement project, will significantly increase Hikma's injectables capacity to accommodate a growing US portfolio, with potential to leverage the facility for contract manufacturing\n· Adds complex manufacturing technologies, including aseptic premix bag filling capabilities and a significant increase in lyophilization capacity\n· Enhances Hikma's R&D capabilities. The R&D center in Zagreb, Croatia adds an experienced team of R&D professionals with the track record and expertise to develop complex finished dosage forms. Hikma will leverage this expertise across its global injectables markets\n· Neutral to Group core earnings in the first 12 months following closing and accretive thereafter, with meaningful longer-term benefits. Upon closing, the current Xellia in-market products will immediately contribute around $75 million revenue on an annualized basis.\n \nAcquired asse...