Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Hikma to Acquire Ben Venue Manufacturing Site

Published: Thursday, July 24, 2014
Last Updated: Thursday, July 24, 2014
Bookmark and Share
The Ben Venue manufacturing site includes four manufacturing plants and a Quality and Development Centre with excellent capabilities.

Hikma Pharmaceuticals PLC announces that it has agreed with Ben Venue Laboratories, Inc. part of the Boehringer Ingelheim Group of Companies, to acquire substantially all of the assets of their generic injectables manufacturing site in Bedford, Ohio. The acquisition is pursuant to the exclusivity arrangement entered into on 28 May 2014. No incremental consideration is payable in relation to Hikma acquiring the Ben Venue manufacturing site.

The Quality and Development Centre (QDC), which includes a R&D pilot plant and a team of experienced employees, will significantly strengthen Hikma's existing R&D capabilities, support the development of a strong future pipeline and expedite the transfer and reactivation of recently acquired ANDAs.

All manufacturing at the Ben Venue site was ceased in December. Over time, Hikma will evaluate the potential to partially reactivate the site to support the delivery of its medium and long term growth plans. In the short term, Hikma will transfer certain modern, advanced equipment, including lyophilisers and filling lines, to its other global manufacturing facilities in the US and Europe, significantly increasing its current injectable manufacturing capacity and capabilities.

The gross assets subject to the transaction, prior to the performance of the fair value exercise and excluding acquired intangible assets, have a book value of $4 million.1 The acquisition of the Ben Venue manufacturing site is subject to customary approvals in the United States.

The guidance previously provided on 28 May 2014 remains unchanged. The acquisition of assets of Bedford, including the Ben Venue site, is expected to be slightly dilutive to adjusted2 earnings per share in 2014 and 2015 and strongly accretive to adjusted earnings per share from 2016 onwards.

Said Darwazah, Chairman and Chief Executive Officer of Hikma commented:

"I am very pleased to be acquiring the Ben Venue manufacturing site and their talented R&D 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.”


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 3,100+ scientific posters on ePosters
  • More Than 4,500+ 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
The Rise of 3D Cell Culture and in vitro Model Systems for Drug Discovery and Toxicology
An overview of the current technology and the challenges and benefits over 2D cell culture models plus some of the latest advances relating to human health research.
Grant Supports Project To Develop Simple Test To Screen For Cervical Cancer
UCLA Engineering announces funding from Bill and Melinda Gates Foundation.
Injecting New Life into Old Antibiotics
A new fully synthetic way to make a class of antibiotics called macrolides from simple building blocks is set to open up a new front in the fight against antimicrobial drug resistance.
Insight into Bacterial Resilience and Antibiotic Targets
Variant of CRISPR technology paired with computerized imaging reveals essential gene networks in bacteria.
Advancing Protein Visualization
Cryo-EM methods can determine structures of small proteins bound to potential drug candidates.
Alzheimer’s Protein Serves as Natural Antibiotic
Alzheimer's-associated amyloid plaques may be part of natural process to trap microbes, findings suggest new therapeutic strategies.
Slime Mold Reveals Clues to Immune Cells’ Directional Abilities
Study from UC San Diego identifies a protein involved in the directional ability of a slime mold.
How Do You Kill A Malaria Parasite?
Drexel University scientists have discovered an unusual mechanism for how two new antimalarial drugs operate: They give the parasite’s skin a boost in cholesterol, making it unable to traverse the narrow labyrinths of the human bloodstream. The drugs also seem to trick the parasite into reproducing prematurely.
Illuminating Hidden Gene Regulators
New super-resolution technique visualizes important role of short-lived enzyme clusters.
Supressing Intenstinal Analphylaxis in Peanut Allergy
Study from National Jewish Health shows that blockade of histamine receptors suppresses intestinal anaphylaxis in peanut allergy.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
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
3,100+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,500+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!