Boehringer Ingelheim Invest has announced plans to pull its investment in Hikma Pharmaceuticals.
The company currently holds 40 million ordinary shares in the UK group, representing around 16.4% of the issued ordinary share capital and voting rights.
Boehringer has commenced an accelerated bookbuild offering to sell up to approximately 28 million shares in Hikma to institutional investors only.
Concurrently, Hikma has committed to buy back from Boehringer a number of ordinary shares that does not exceed an aggregate value of £295 million, funding the move with cash and available facilities.
“I would like to thank Boehringer Ingelheim for their support as a major shareholder in Hikma since our acquisition of Roxane in 2016,” said Hikma’s chief executive Said Darwazah.
“We are delighted to have the opportunity to welcome new investors into Hikma and at the same time have this unique opportunity to acquire a significant proportion of our share capital. The Buy Back reflects our confidence in the future prospects of the business and we will retain significant financial flexibility to continue to execute our strategy.”
By: Selina McKee
Source: Pharma Times
In 2017, Sanofi partnered with the Lebanon, New Hampshire-based ImmuNext to develop an antibody for autoimmune diseases like lupus and multiple sclerosis, which included giving Sanofi a worldwide license to develop frexalimab. The agreement involved milestone payments upto $500 million.
Global manufacturer for the pharmaceutical, biotech and nutraceutical markets, Lonza has announced that it has acquired Synaffix, a biotech company focused on the commercialisation of its clinical stage technology platform for the development of antibody-drug conjugates (ADCs).
In its hunt for the new head of its pharmaceutical systems business—which makes syringes, self-injection systems and other drug delivery devices for 70% of the top 100 drugmakers in the world, according to the company—BD landed on a candidate with plenty of experience among that customer group.