Hikma Pharmaceuticals is to buy Bedford Laboratories, the US generic injectables business of Ben Venue Laboratories, which is part of Boehringer Ingelheim. Hikma will pay $225m up front and a further $75m in contingent cash payments if certain performance-related milestones, over a period of five years, are achieved.
The assets subject to the transaction generated revenue of $19m and negative EBITDA of $22m in 2013, reflecting the limited sales of Bedford's products following the shutdown of Ben Venue's
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