Hikma Pharmaceuticals to acquire Bedford
Deal would make Hikma the largest generic injectables company in the U.S.
- Hikma is buying Bedford Laboratories from Boehringer Ingelheim for $300 million.
- Hikma is also in talks to buy BI’s Ohio-based manufacturing facility.
- After the acquisition, Hikma will become the company with the largest portfolio of generic injectables in the US.
Once Hikma Pharmaceuticals, which is based in the UK, completes the acquisition of BI’s Bedford Laboratories, it will have 147 marketed products, up from 63 products. The acquisition will bring many new oncology products into the company’s portfolio, along with a very strong R&D product pipeline.
Hikma has been steadily building its injectables business, including the 2011 acquisition of Baxter International’s Multi-Source Injectables business. As business grows, Hikma anticipates $150 million in sales from the Bedford products by 2017. Overall, Hikma’s injectables business earned $536 million in revenue in 2013.