Hikma does 'transformational' injectables deal

29th Oct 2010 08:08

Hikma Pharmaceuticals becomes the second largest injectables supplier in the US after agreeing to pay $112m (£70m) in cash for Baxter Healthcare's generic injectables business.The Jordan-based firm said the acquired portfolio includes 41 products in over 150 dosage strengths and forms across 23 therapeutic areas.Revenue from the business, which also includes several DEA controlled substances that complement Hikma's growing oncology product range, is about $180m a year."The acquisition of Baxter's multi-source injectables business is transformational," said Hikma chief Said Darwazah."The acquisition doubles the size of our global injectables business and doubles our sales in the US market, while further diversifying our global revenue base."