Last checked at 17 Jan 2022 07:00
Hikma expands into Canada with acquisition of Teligent sterile injectable assets
London, 17 January 2022 - Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, today announces that it has agreed to acquire the Canadian assets of Teligent Inc. (Teligent) for $45.75 million. The transaction is expected to be completed before the end of the first quarter of 2022.
The acquisition marks Hikma's expansion into Canada and includes a portfolio of 25 sterile injectable products, three in-licenced ophthalmic products and a pipeline of seven additional products, four of which are approved by Health Canada.
Riad Mishlawi, President of Hikma Injectables, commented, "This acquisition further expands our portfolio of essential sterile injectable medicines and gives Hikma an entry into the highly attractive Canadian injectables market. The combination of our sales and marketing expertise and this portfolio of exciting products will enable us to expand our North American business and develop a solid position in this important market."
In October 2021, Teligent filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. As part of this process, Teligent initiated a sale of its core assets, following which Hikma has agreed to acquire Teligent's Canadian assets.
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About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and BBB-/stable Fitch)
Hikma helps put better health within reach every day for millions of people around the world. For more than 40 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,600 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com