Boehringer Ingelheim Statement on Agreement to Sell Roxane to Hikma Pharmaceuticals PLC

Ridgefield, Conn., July 28, 2015 – Boehringer Ingelheim is pleased to announce that the company has signed an agreement for the sale of its U.S. generic pharmaceutical business, Roxane Laboratories, Inc. and its manufacturing supply chain affiliate Boehringer Ingelheim Roxane, Inc., collectively known as Roxane Labs, Inc. (Roxane) to Hikma Pharmaceuticals PLC (Hikma).

Under the terms of the agreement, Hikma will purchase 100% of the stock of Roxane, and, in exchange, Boehringer Ingelheim will receive cash and stock in Hikma. The deal is valued at approximately $2.65 billion in up-front payments, plus milestones and royalties related to certain assets in Roxane’s development pipeline.

Through the agreement, Boehringer Ingelheim will take a material position as a shareholder in Hikma, allowing the Company to invest in a fast growing global company, and retain a vested interest in the significant potential of Roxane, while focusing on growing its global core businesses in branded pharmaceuticals, consumer healthcare, animal health, and biopharmaceuticals. 

At the end of last year, Boehringer Ingelheim assessed its current portfolio of businesses, and determined that the Company would pursue strategic options for its generic pharmaceutical business. Roxane continues to experience strong business performance based on its robust pipeline of high-quality, differentiated products and its excellent track record of regulatory compliance and customer service. Boehringer Ingelheim is confident that this strategic partnership can better support the already successful Roxane business to realize its growth potential.

About Boehringer Ingelheim
Boehringer Ingelheim Pharmaceuticals, Inc., based in Ridgefield, CT, is the largest U.S. subsidiary of Boehringer Ingelheim Corporation.

Boehringer Ingelheim is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, the company operates globally with 146 affiliates and more than 47,000 employees. Since its founding in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel treatments for human and veterinary medicine.

Boehringer Ingelheim is committed to improving lives and providing valuable services and support to patients and families.  Our employees create and engage in programs that strengthen our communities. To learn more about how we make more health for more people, visit our Corporate Social Responsibility Report.

In 2014, Boehringer Ingelheim achieved net sales of about $ 16.96 billion dollars (13.3 billion euros). R&D expenditure corresponds to 19.9 percent of its net sales.

For more information please visit www.us.boehringer-ingelheim.com, or follow us on Twitter @BoehringerUS.