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Hikma buys Teligent Canadian assets for $47.75m
17th Jan 2022 07:08
(Sharecast News) - Hikma Pharmaceuticals on Monday said it had agreed to buy the Canadian assets of Teligent for $45.75m after the US firm filed for Chapter 11 bankruptcy last year.
The deal is expected to be completed before the end of the first quarter and marks Hikma's expansion into Canada with a portfolio of 25 sterile injectable products, three in-licenced ophthalmic products and a pipeline of seven additional products, four of which are approved by Health Canada.
"This acquisition further expands our portfolio of essential sterile injectable medicines and gives Hikma an entry into the highly attractive Canadian injectables market," said Riad Mishlawi, president of Hikma Injectables.
"The combination of our sales and marketing expertise and this portfolio of exciting products will enable us to expand our North American business and develop a solid position in this important market."
The deal is expected to be completed before the end of the first quarter and marks Hikma's expansion into Canada with a portfolio of 25 sterile injectable products, three in-licenced ophthalmic products and a pipeline of seven additional products, four of which are approved by Health Canada.
"This acquisition further expands our portfolio of essential sterile injectable medicines and gives Hikma an entry into the highly attractive Canadian injectables market," said Riad Mishlawi, president of Hikma Injectables.
"The combination of our sales and marketing expertise and this portfolio of exciting products will enable us to expand our North American business and develop a solid position in this important market."