Hikma gets preliminary approval from US FTC for Custopharm deal
Hikma Pharmaceuticals
1,798.00p
15:45 15/11/24
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.
FTSE 100
8,060.61
15:45 15/11/24
FTSE 350
4,453.56
15:45 15/11/24
FTSE All-Share
4,411.85
15:45 15/11/24
Pharmaceuticals & Biotechnology
19,259.77
15:45 15/11/24
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.