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 3,200+ 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
Open Source Seed Initiative – A Welcome Boost to Global Crop Breeding
A team of plant breeders, farmers, non-profit agencies, seed advocates, and policymakers have created the Open Source Seed Initiative.
ASMS 2016: Targeting Mass Spectrometry Tools for the Masses
The expanding application range of MS in life sciences, food, energy, and health sciences research was highlighted at this year's ASMS meeting in San Antonio, Texas.
Implementation Science Approaches to Reduce Mother-to-Child HIV Transmission
The NIH study will investigate best practices to ease major disease burden in Sub-Saharan Africa.
Tough New Hydrogel Hybrid Doesn’t Dry Out
Water-based material could be used to make artificial skin, longer-lasting contact lenses.
New CAR T Cell Therapy Using Double Target Aimed at Solid Tumors
Researchers at Penn University have described how antibody, carbohydrate combination could apply to range of cancer types.
Lasers Carve the Path to Tissue Engineering
A new technique, developed at EPFL, combines microfluidics and lasers to guide cells in 3D space, overcoming major limitations to tissue engineering.
Link Between Canned Food, BPA Exposure Revealed
New Stanford research resolves the debate on the link between canned food and exposure to the hormone-disrupting chemical known as Bisphenol A, or BPA.
Portable Test Rapidly Detects Zika
To better diagnose and track the disease, scientists are now reporting a new $2 test that in the lab can accurately detect low levels of the virus in saliva.
Erasing Unpleasant Memories with a Genetic Switch
Researchers from KU Leuven and the Leibniz Institute for Neurobiology have managed to erase unpleasant memories in mice using a 'genetic switch'.
Unidentified Spectra Detector
New algorithm clusters over 250 million spectra for analysis, such that millions of unidentified peptide sequences can be recognised.
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
3,200+ 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!