Hikma gets preliminary approval from US FTC for Custopharm deal

Hikma Pharmaceuticals has received preliminary approval from the US Federal Trade Commission for the acquisition of sterile injectables company Custopharm Inc from Water Street Healthcare for up to $425m.

The group said on Wednesday that it will now work towards closing the acquisition. It noted that the parties have obtained all regulatory approvals required to close the deal.

Hikma announced in September last year that it had agreed to buy Custopharm. It said the acquisition complements its injectable product portfolio and pipeline, adding 13 approved products and additional pipeline products

It also enhances the group’s R&D capabilities, "adding an experienced scientific team of dedicated R&D professionals with a proven ability to develop and commercialise complex sterile injectable products and a state-of-the-art R&D laboratory in California," it said at the time.