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Hikma Gets FTC Nod For Custopharm Deal – But With Strings Attached

Acquisition Moves Closer To Completion, But Combining Firms Must Lose A Product

 
• By Dave Wallace

Hikma has moved closer to completing a deal worth more than $400m to acquire Custopharm, which promises to bolster its US injectables business. However, the FTC’s approval of the transaction comes with conditions.

Federal Trade Commission seal sign logo FTC
The FTC has required the transfer of one Custopharm product • Source: Andriy Blokhin / Alamy Stock Photo

Hikma is on the verge of closing a major deal that will see it bolster its already sizable US injectables business by acquiring Custopharm from Water Street Healthcare Partners in a deal worth up to $425m, after receiving preliminary approval from the US Federal Trade Commission for the transaction.

However, as a condition of deal approval, the FTC will require Water Street to “retain and transfer Custopharm’s assets related to the corticosteroid drug triamcinolone acetonide, or TCA, to another company Water Street owns, Long Grove Pharmaceuticals,” a complex generics specialist

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