Hikma boosts US injectables business with $425 million deal for Custopharm
The acquisition will add 13 approved products and additional pipeline products
Hikma Pharmaceuticals is set to strengthen its US injectables business with a $425 million deal to acquire Custopharm from Water Street Healthcare Partners.
The acquisition will complement Hikma's injectable product portfolio and pipeline by adding 13 approved products and additional pipeline products.
These additional products will bring Hikma's US portfolio close to 130 injectable medicines which, according to Riad Mishlawi, President of Hikma Injectables, represents a more than fivefold increase over the last decade.
The Carlsbad, California-based Custopharm currently markets its products in the US through its commercial arm Leucadia Pharmaceuticals. The company has received 13 US Food and Drug Administration approvals, with four first-to-market Abbreviated New Drug Application (ANDA) approvals — including one with Competitive Generic Therapy (CGT) exclusivity for Calcitonin Salmon, which was launched in May 2021— and one novel 505(b)(2) NDA approval.
Custopharm is a growing business and Hikma says it expects to generate full year 2021 revenue in excess of $80 million.
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