Hikma Acquires Ben Venue Generic Injectables Manufacturing Facility In Ohio
By Cyndi Root
Hikma Pharmaceuticals PLC announced in a press release that it has acquired the Ben Venue Laboratories manufacturing facility in Bedford, OH. Ben Venue is part of Boehringer Ingelheim, and its generic injectables manufacturing site includes four manufacturing plants and a Quality and Development Centre (QDC).
This move also adds Ben Venue’s R&D capabilities and capacities to Hikma’s own, in turn strengthening its R&D capabilities and future pipeline. Indeed, through this deal, Hikma is gaining 84 products, adding them to its portfolio of 63 products andincreasing its therapeutic categories — especially oncology products.
Chairman and CEO of Hikma, Said Darwazah, said, "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.”
Hikma and Ben Venue Agreement
The acquisition announcement follows a May exclusivity arrangement with Boehringer to substantially acquire all of the Bedford facility. That agreement was part of a larger deal by Hikma to acquire Bedford Laboratories, a generic injectables business, for a total of $300 million. The Ben Venue manufacturing site acquisition accrues no further financial exchange.
Ben Venue Site
The Ben Venue manufacturing site has four plants and a QDC center with experienced employees. Manufacturing ceased at the site in December 2013 and Hikma intends to reactivate the site in time. Initially, Hikma will appropriate modern, advanced equipment and send it to its manufacturing facilities in the U.S. and Europe. The facilities, equipment, and personnel will strengthen Hikma's generic injectables, increase its R&D capabilities, and reactivate recently acquired ANDAs.
About Hikma
Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on branded and non-branded generics and licensed products. Hikma operates in the Middle East, North Africa, the United States, and Europe. Hikma earned $536 million from its Injectables business in 2013, accounting for 39 percent of the company’s revenue. In recent years, Hikma has focused on investing in the Injectables business. The company acquired Baxter’s Multi-Source Injectables business (MSI) in 2011, making Hikma the third largest supplier in the U.S. generic injectables market. The U.S. market for injectables is valued around $7.6 billion, according to Hikma, and is growing quickly.
Bedford has a pipeline of 27 products, 16 of which are pending approval from the Food and Drug Administration (FDA).