Hikma to purchase Ben Venue manufacturing site

24th Jul 2014 11:30

Hikma Pharmaceuticals confirmed its acquisition of the generic injectables manufacturing site owned by US group Ben Venue Laboratories. The deal, which follows an exclusivity arrangement inked in May, will form part of the previously announcement agreement to acquire Ben Venue Laboratories for $225m, plus up to a further $75m. The facility is located in Ohio, US, and is one of the largest sterile injectable manufacturing sites in the world. Said Darwazah, the Chairman and Chief Executive Officer of Hikma, said: "I am very pleased to be acquiring the Ben Venue manufacturing site and their talented research and development team. "We believe this will meaningfully enhance our R&D capabilities and enable us to significantly expand future capacity. This reflects Hikma's commitment to the long term growth of our fast growing global Injectables business and will create significant strategic value." NR