Acquiring the Boehringer Ingelheim subsidiary expands Hikma’s presence in US generics market
UK-headquartered Hikma Pharmaceuticals has agreed to buy Roxane Laboratories – Boehringer Ingelheim’s generic medicines unit – for a total of $2.65 billion (£1.7 billion) in a combination of cash and newly-issued shares. The deal will give Boehringer Ingelheim a stake of just over 16% in Hikma.
In return, Hikma will take control of Roxane’s portfolio of generic medicines, as well as manufacturing supply chain affiliate Boehringer Ingelheim Roxane. The deal follows a trend of large pharmaceutical firms moving their focus away from generic medicines, as the sector continues to consolidate heavily.