Ontario, Canada (CU)_ Hikma Pharmaceuticals PLC (Hikma), the global pharmaceutical business, revealed that it has reached an agreement to buy Teligent Inc.’s (Teligent) Canadian assets for $45.75 million. The acquisition is anticipated to close in the first quarter of 2022. Hikma’s entry into Canada is facilitated by this purchase, which comprises a portfolio of 25 sterile injectable medications, three in-licensed ophthalmic drugs, and a series of seven more products, four of which have received Health Canada approval.
Hikma Injectables President, Riad Mishlawi, expressed delight over the latest acquisition. He said, “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.”
Teligent applied for voluntary protection under Chapter 11 of the United States Bankruptcy Code in October 2021. As a result, Teligent began selling its major assets under this process, and eventually Hikma reached an agreement with the firm to buy Teligent’s Canadian assets.
Hikma’s goal is to help millions of individuals across the world achieve better health. The firm has been developing standard medications and making them available to those in need for over 40 years. It is a multinational company based in the United Kingdom (UK), with local operations in the United States, the Middle East and North Africa, and Europe. The company leverages its unmatched insight and expertise to convert breakthrough science into innovative solutions that improve the lives of the people across the world. The firm is devoted to its clients and the people they care about, and by thinking imaginatively and acting effectively, the company supplies them with a diverse choice of branded and non-branded generic medications.
