Hikma Pharmaceutical purchases $3m worth of products from German partner
Shares of FTSE 250-listed pharma firm Hikma Pharmaceuticals dropped in early trading on Tuesday after it announced the acquisition of products to the tune of $3m from a German partner.
FTSE 250
19,601.98
17:09 25/04/24
FTSE 350
4,434.34
17:09 25/04/24
FTSE All-Share
4,387.94
16:49 25/04/24
Hikma Pharmaceuticals
1,854.00p
16:40 25/04/24
Pharmaceuticals & Biotechnology
22,750.48
17:09 25/04/24
Hikma has purchased six products from Boehringer Ingelheim, which holds a 17% stake in the UK-listed company.
Five of the products emanate from Boehringer’s German operations, namely Alupent, Gastrozepin, Paracefan, Partusisten, Spiropent, while a further product known as Mantadan will arrive from its Italian operation.
Hikma estimates that the transition period for the products will be just under three years, in a transaction which will be worth $3m.
The firm’s stock was down 2.24% to 939p as of 09:02 GMT following the announcement of the transaction.