Hikma completes Xellia acquisition
London, 10 September 2024 – Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today announces that it has completed its acquisition of Xellia Pharmaceuticals’ US finished dosage form (FDF) business and related assets following clearance under applicable US antitrust laws. The acquisition includes a commercial portfolio and pipeline of differentiated products, a manufacturing facility in Cleveland, Ohio, sales and marketing capabilities, and an R&D center in Zagreb, Croatia. Hikma has paid cash consideration of $135 million (subject to customary adjustments), with additional contingent consideration of up to $50 million payable upon achievement of certain regulatory and commercial milestones.
Transaction highlights:
- Supports the long-term growth of Hikma’s Injectables business
- Diversifies and enriches Hikma’s US injectables portfolio and pipeline
- Expands Hikma’s high-quality manufacturing capacity
- Adds complex manufacturing technologies
- Enhances Hikma’s R&D capabilities
- Neutral to Group core earnings in the first 12 months following closing and accretive thereafter, with meaningful longer-term benefits
Dr Bill Larkins, President, Injectables commented:
“This acquisition adds significant scale to our US operations and enhances our US injectable manufacturing capabilities and portfolio by adding complex technologies. I am confident that this transaction will deliver significant future value to our Injectables business, supporting growth over the medium term.”