Hikma Announces the Close of the Roxane Laboratories Acquisition
Hikma acquires Roxane Laboratories, transforming its position in the US generics market
Acquisition enhances scale and will create platform for sustainable long-term growth.
2/29/2016 12:00:00 AM
HikmaCorporate
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London, 29 February 2016 - Hikma Pharmaceuticals PLC ("Hikma" or the "Company") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, announced on 28 July 2015 that it had agreed terms to acquire Roxane Laboratories Inc. and Boehringer Ingelheim Roxane Inc. from Boehringer Ingelheim Corporation (the "Acquisition").

 

The Company is pleased to announce that the Acquisition closed today, following satisfaction of all necessary conditions.

 

In accordance with the terms of the Acquisition, the Company issued 40,000,000 new fully paid ordinary shares to Boehringer Ingelheim Corporation (the "Consideration Shares"), which will represent approximately 16.71 per cent. of the Company's share capital immediately following closing of the Acquisition and Admission (as defined below).

 

Applications have been made for the Consideration Shares to be admitted to the premium segment of the Official List of the UKLA and to be admitted to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is currently anticipated that Admission will occur at 7.00a.m. tomorrow.

 

For further details please contact:

Hikma Pharmaceuticals PLC

Susan Ringdal, VP Corporate Strategy and Investor Relations

+44 (0)20 7399 2760/+44 7776 477050

Zeena Murad, Investor Relations Manager

+44 (0) 20 7399 2768/+44 7771 665277

  

FTI Consulting

Ben Atwell/ Matthew Cole

+44 (0)20 3727 1000

  

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non- branded generic and in-licensed products. Hikma operates through three businesses: "Branded", "Injectables" and "Generics", based principally in the Middle East and North Africa ("MENA"), where it is a market leader, the United States and Europe. In 2014, Hikma achieved revenues of US$1,489 million and profit attributable to shareholders of US$299 million.

  

CITIGROUP GLOBAL MARKETS LIMITED ("CITI"), WHICH IS AUTHORISED BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY, IS ACTING EXCLUSIVELY FOR HIKMA AND NO ONE ELSE IN CONNECTION WITH THE ACQUISITION AND WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN HIKMA FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF CITI OR FOR PROVIDING ADVICE IN RELATION TO THE ACQUISITION OR ANY OTHER MATTERS REFERRED TO IN THIS ANNOUNCEMENT. NEITHER CITI NOR ANY OF ITS DIRECTORS, OFFICERS, REPRESENTATIVES, EMPLOYEES, ADVISERS, AGENTS OR AFFILIATES OWES OR ACCEPTS ANY DUTY, LIABILITY OR RESPONSIBILITY WHATSOEVER (WHETHER IN CONTRACT, IN TORT, UNDER STATUTE OR OTHERWISE) TO ANY PERSON WHO IS NOT A CLIENT OF CITI IN CONNECTION WITH THIS ANNOUNCEMENT, ANY STATEMENT CONTAINED HEREIN, THE ACQUISITION OR OTHERWISE.

 

This information is provided by RNS

 

The company news service from the London Stock Exchange

 

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