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Hikma completes acquisition of Custopharm

Hikma completes acquisition of Custopharm

Combination expands US Injectables portfolio and pipeline

London, 21 April 2022 – Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical

company, today announces that it has completed its acquisition of Custopharm Inc. (‘Custopharm’) from

Water Street Healthcare Partners (‘Water Street’), following approval from the US Federal Trade


As previously announced on 27 September 2021, Hikma has acquired Custopharm for an initial cash

consideration of $375 million on a debt and cash-free basis, with a further $50 million in contingent

consideration payable upon the achievement of certain commercial milestones.

Hikma is the second-largest supplier by volume of generic sterile injectable medicines used by US

hospitals and health care providers. The combination with Custopharm enhances Hikma’s R&D

capabilities and pipeline and expands Hikma’s differentiated US portfolio to close to 130 commercialised

injectable medicines – a more than fivefold increase over the last decade.

Transaction highlights and strategic rationale:

• Complements Hikma’s product portfolio and pipeline, adding up to 13 approved products and

additional pipeline products

• Enhances Hikma’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

• Maintains Hikma’s strong regulatory track record. Custopharm has consistently obtained

regulatory approval for new products with four first-to-market FDA ANDA approvals, including one

CGT exclusivity for Calcitonin Salmon, which was launched in May 2021

Siggi Olafsson, Chief Executive Officer of Hikma, commented:

“The acquisition of Custopharm immediately strengthens our already strong US injectables business by

adding an attractive and profitable portfolio of marketed products, an exciting pipeline of future

opportunities, and a first-class scientific team with a strong regulatory track record. This acquisition is

highly complementary to our existing business and places us in an excellent position to better serve the

growing needs of hospitals, doctors and patients. I am excited to welcome the team at Custopharm to

Hikma as we continue to grow and strengthen our Injectables business.”

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Last Updated: 22-Apr-2022