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Hikma Gets $535m Off BI's Roxane Over Rebate Discrepancy

 
• By Sukaina Virji

"A very good deal that just got a little sweeter," is how Hikma CEO Said Darwazah described the $535m purchase price reduction of Roxane Laboratories Inc. from Boehringer Ingelheim. The discount was result of "new information" from BI in relation to Roxane's financial performance in 2015, specifically higher than expected rebates offered by Roxane.

"A very good deal that just got a little sweeter," is how Hikma CEO Said Darwazah described the $535m purchase price reduction of Roxane Laboratories Inc. from Boehringer Ingelheim. The discount was result of "new information" from BI in relation to Roxane's financial performance in 2015, specifically higher than expected rebates offered by Roxane.

Investors were initially sceptical, sending Hikma shares downward, but the price later recovered as the full ramifications sank in. As...

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