Date: 2014-09-17
Type of information: Company acquisition
Acquired company: generic injectables manufacturing site of Ben Venue Laboratories (USA - OH) , part of Boehringer Ingelheim (Germany)
Acquiring company: Hikma Pharmaceuticals (UK)
Amount: undisclosed
Terms: * On 17 September 2014, Hikma Pharmaceuticals announced that it has completed its acquisition of substantially all of the assets of the generic injectables manufacturing site of Ben Venue Laboratories, part of the Boehringer Ingelheim Group of Companies, as agreed on 24 July 2014. * On July 24, 2014, Hikma Pharmaceuticals announced that it has agreed with Ben Venue Laboratories, part of the Boehringer Ingelheim Group, to acquire substantially all of the assets of their generic injectables manufacturing site in Bedford, Ohio. The acquisition is pursuant to the exclusivity arrangement entered into on 28 May 2014. No incremental considerations payable in relation to Hikma acquiring the Ben Venue manufacturing site.The gross assets subject to the transaction, prior to the performance of the fair value exercise and excluding acquired intangible assets, have a book value of $4 million. The acquisition of the Ben Venue manufacturing site is subject to customary approvals in the United States.
The guidance previously provided on 28 May 2014 remains unchanged. The acquisition of assets of Bedford, including the Ben Venue site, is expected to be slightly dilutive to adjusted2 earnings per share in 2014 and 2015 and strongly accretive to adjusted earnings per share from 2016 onwards.
Details: The Ben Venue site includes four manufacturing plants and a state-of-the-art Quality and Development Centre ("QDC"). The QDC, which includes a R&D pilot plant, will significantly strengthen Hikma's existing R&D capabilities and support the development of a strong future pipeline. The four manufacturing plants are not currently in use. Hikma will transfer certain modern, advanced equipment to significantly increase capacity at its other manufacturing facilities in the United States and Europe.
Related: Production Manufacturing
