The Ben Venue manufacturing site includes four manufacturing plants and a Quality and Development Centre ("QDC") with excellent capabilities.  The QDC, which includes a R&D pilot plant and a team of experienced employees, will significantly strengthen Hikma's existing R&D capabilities, support the development of a strong future pipeline and expedite the transfer and reactivation of recently acquired ANDAs.

All manufacturing at the Ben Venue site was ceased in December. Over time, Hikma will evaluate the potential to partially reactivate the site to support the delivery of its medium and long term growth plans. In the short term, Hikma will transfer certain modern, advanced equipment, including lyophilisers and filling lines, to its other global manufacturing facilities in the US and Europe, significantly increasing its current injectable manufacturing capacity and capabilities.

The gross assets subject to the transaction, prior to the performance of the fair value exercise and excluding acquired intangible assets, have a book value of $4 million.¹ The acquisition of the Ben Venue manufacturing site is subject to customary approvals in the United States.

The guidance previously provided on 28 May 2014 remains unchanged. The acquisition of assets of Bedford, including the Ben Venue site, is expected to be slightly dilutive to adjusted² earnings per share in 2014 and 2015 and strongly accretive to adjusted earnings per share from 2016 onwards.

Said Darwazah, Chairman and Chief Executive Officer of Hikma commented:

"I am very pleased to be acquiring the Ben Venue manufacturing site and their talented R&D team. We believe this will meaningfully enhance our R&D capabilities and enable us to significantly expand future capacity. This reflects Hikma's commitment to the long term growth of our fast growing global Injectables business and will create significant strategic value.”

1. _{The book value of the gross assets in the financial statements of Ben Venue Laboratories, Inc at 31 December 2013}
2. _{Before the amortisation of intangibles (excluding software)}