Hikma Pharmaceuticals Plc Hikma Acquires Products from Boehringer Ingelheim (3688W)
November 14 2017 - 1:00AM
UK Regulatory
TIDMHIK
RNS Number : 3688W
Hikma Pharmaceuticals Plc
14 November 2017
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 EUR3 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.
-- ENDS --
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
The company news service from the London Stock Exchange
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