London, 17 September 2014 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational pharmaceutical group, today announces that it has completed its acquisition of substantially all of the assets of the generic injectables manufacturing site of Ben Venue Laboratories, Inc. ("Ben Venue"), part of the Boehringer Ingelheim Group of Companies, as agreed on 24 July 2014.
The Ben Venue site includes four manufacturing plants and a state-of-the-art Quality and Development Centre ("QDC"). The QDC, which includes a R&D pilot plant, will significantly strengthen Hikma's existing R&D capabilities and support the development of a strong future pipeline. The four manufacturing plants are not currently in use. Hikma will transfer certain modern, advanced equipment to significantly increase capacity at its other manufacturing facilities in the United States and Europe.
Said Darwazah, Chairman and Chief Executive Officer of Hikma commented:
"I am very pleased to be acquiring the Ben Venue manufacturing site, which will significantly enhance our R&D capabilities and enable us to expand future capacity. This reflects our commitment to the long term growth of our global Injectables business and will create significant strategic value."