BRIEF-Hikma buys assets of Bedford Laboratories for $300 mln

Wed May 28, 2014 4:55pm IST

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May 28 (Reuters) - Hikma Pharmaceuticals Plc

* Hikma pharmaceutical - acquisition

* Signed an asset purchase agreement with Ben Venue Laboratories Inc., a member of Boehringer Ingelheim Group of Companies

* Deal for a total consideration of up to $300 million

* A further $75 million in contingent cash payments will be paid, subject to achievement of performance-related milestones, over a period of five years.

* Hikma has entered into an exclusivity arrangement with Boehringer Ingelheim Group to potentially acquire substantially all of assets of Ben Venue manufacturing facility in Bedford, Ohio

* Transaction highlights slightly dilutive to adjusted EPS in 2014 and 2015, with strong EPS accretion thereafter as acquired products are re- introduced to market Source text for Eikon: Further company coverage: