Hikma Buys Baxter's Injectibles Business For $112M

Law360, New York (October 29, 2010, 4:29 PM EDT) -- Hikma Pharmaceuticals PLC has agreed to buy Baxter International Inc.'s generic injectables business for $112 million in cash.

The deal will make Hikma the second-largest supplier of injectable drugs in the United States, with 15 percent of the market share, the companies said Friday.

Hikma expects to finance the deal, which requires regulatory approval, with cash on hand and available borrowing, it said.

“The acquisition of Baxter's ... business is transformational,” Hikma CEO Said Darwazah said in a statement.

According to the deal, Hikma's U.S.-based subsidiary...
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