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Business

Hikma Will Buy Troubled Drug Unit

by Michael McCoy
June 2, 2014 | APPEARED IN VOLUME 92, ISSUE 22

The London-based generic drug company Hikma Pharmaceuticals has agreed to acquire Boehringer Ingelheim’s U.S. injectable generic drug business for $225 million plus up to $75 million in milestone payments. Hikma also has an option to acquire Boehringer’s Ben Venue Laboratories facility in Bedford, Ohio. The plant, one of the largest sterile injectables manufacturing sites in the world, closed at the end of 2013 after a struggle with drug quality problems. Hikma plans to bring back products that were made in the Ohio plant by transferring output to its own facilities.

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