Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, announces that it has agreed to acquire the Canadian assets of Teligent Inc. (Teligent) for $45.75 million. The transaction is expected to be completed before the end of the first quarter of 2022.
The acquisition marks Hikma’s expansion into Canada and includes 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.
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Riad Mishlawi, President of Hikma Injectables, commented, “This acquisition further expands our portfolio of essential sterile injectable medicines and gives Hikma an entry into the highly attractive Canadian injectables market. 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.”
In October 2021, Teligent filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. As part of this process, Teligent initiated a sale of its core assets, following which Hikma has agreed to acquire Teligent’s Canadian assets.