Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Ben Venue Announces Divestiture of Assets of Bedford Laboratories to Hikma

Published: Thursday, May 29, 2014
Last Updated: Thursday, May 29, 2014
Bookmark and Share
Plans to re-introduce U.S. injectable generics products.

Ben Venue Laboratories. Inc. has announced that the company has signed an asset purchase agreement for the sale of the assets of Bedford Laboratories, Ben Venue’s U.S. injectable generics business to Hikma Pharmaceuticals PLC (“Hikma”).

Bedford Laboratories is a leading provider of generic sterile injectable medicines in the U.S., with a focus on acute-care hospitals, group purchasing organizations and oncology treatment centers.

Under the terms of the agreement, Hikma will be acquiring Bedford Laboratories’ assets, including a large product portfolio, intellectual property rights, contracts for products marketed under license, raw material inventories, a strong research and development (R&D) and business development pipeline, and a number of employees across key business functions, such as R&D, sales and marketing, business development and regulatory affairs.

“We believe that this is a positive development, allowing Hikma to leverage its existing infrastructure and manufacturing capabilities to re-introduce important products to the U.S. market, bringing significant benefit to patients,” said Paul R. Fonteyne, U.S. Country Managing Director, President and CEO of Boehringer Ingelheim USA Corporation and Chairman, Ben Venue Board of Directors. “For more than 20 years, Bedford Laboratories and its product portfolio have been of great value to patients, customers and the marketplace. As part of Hikma, the Bedford team will remain focused on strengthening its relationships with customers and continuing to serve the needs of patients.”

“I am very excited to be acquiring an impressive portfolio of Bedford’s products and deep pipeline, which will significantly increase the scale and scope of our rapidly growing U.S. Injectables business. Our focus on bringing back critical products to the market that are currently in short supply will bring significant benefit to patients,” said Said Darwazah, Chief Executive Officer of Hikma. “I am confident that we have the technical capabilities and manufacturing expertise to successfully re-launch Bedford’s products in the near term. Our experience in integrating previous acquisitions will help to ensure a smooth integration.”

In addition, Hikma has entered into an exclusivity arrangement with the Boehringer Ingelheim Group to potentially acquire substantially all of the assets of the Ben Venue manufacturing facility, subject to due diligence and customary approvals in the U.S. and the U.K.

Bank of America Merrill Lynch acted as the financial advisor, and Covington & Burling LLP acted as counsel, to Ben Venue.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
What Makes a Good Scientist?
It’s the journey, not just the destination that counts as a scientist when conducting research.
Investigational Malaria Vaccine Protects Healthy U.S. Adults
Researchers at NIH have found that the malaria vaccine protected a small number of healthy, malaria-naïve adults in the U.S. from infection for more than one year after immunization.
AACR 2016: Cancer Immunotherapy and Beyond
At this year's meeting there was a palpable buzz around subjects ranging from microbiomics to the tumor microenvironment and cancer vaccines, big data to in vitro and in vivo modeling and drug delivery (to name just a few).
New Database for Sharing MS Clinical Trial Data
A new database containing nearly 2500 patient records from the placebo arms of nine multiple sclerosis (MS) clinical trials is now available for research by qualified investigators.
Study Finds Factors That May Influence Influenza Vaccine Effectiveness
Researchers at NIH have suggested that the long-held approach to predicting seasonal influenza vaccine effectiveness may need to be revisited.
BMS’s Opdivo Clinical Trial Shows Promise
Safety profile of the combination regimen from CheckMate -069 was consistent with previously reported studies and adverse events were managed using established safety algorithms.
Treatment of Common Prostate Cancer
Researchers at UTSW have found that the prostate cancer treatments suppress immune response and may promote relapse.
Cancer Drug Could Treat Blood Vessel Deformities
A drug currently being trialled in cancer patients could also be used to treat an often incurable condition that can cause painful blood vessel overgrowths inside the skin.
Structure of Crucial Enzyme Identified
Researchers at UTSW have determined the atomic structure of an enzyme that plays an essential role in cell division and better treatment of cancer.
New Immunotherapy Trial for Type 1 Diabetes
The search for a treatment for Type 1 diabetes (T1D) - which affects over 400,000 people in the UK – will be stepped up with the start of a new phase one clinical trial at Guy’s Hospital in London.
Scroll Up
Scroll Down
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!