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Thursday, July 25, 2024

Hikma Pharmaceuticals Acquires American Custopharm for $375 Million

Hikma Pharmaceuticals Company said that it has completed its acquisition of the American company, Custopharm, for sterile injections, after the approval of the US Federal Trade Commission.

Hikma acquired Kostofarm for an initial cash amount of $375 million on a debt and no cash basis, with an additional $50 million to be paid upon realization of certain business milestones, as previously announced on September 27, 2021.

Hikma is the second largest supplier of injectable generic drugs by volume used by US hospitals and health care providers.

The acquisition of Custopharm enhances Hikma’s research and development capabilities and pipelines and expands Wisdom’s disparate U.S. portfolio to nearly 130 commercial injectable drugs — a more than fivefold increase over the past decade.

Custopharm, a California public company for sterile injectables, specializes in a diversified product portfolio and research and development pipeline and markets its products in the United States through its commercial arm, Leucadia Pharmaceuticals.

“The acquisition of Custopharm immediately enhances our already strong injection business in the United States by adding an attractive and profitable portfolio of marketed products, an exciting pipeline of future opportunities, and a first-class scientific team with a regulatory track record,” said Sigurdur Olafsson, CEO of Hikma.

He explained that this acquisition is highly complementary to our existing business and places us in an excellent position to better serve the growing needs of hospitals, physicians and patients.

I am pleased to welcome the Custopharm team at Hikma as we continue to grow and strengthen our injections business.

About Hikma Pharmaceuticals

hikma pharmaceuticals

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 8,700 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.

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HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

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