Baxter to sell US generic injectables business to Hikma

US healthcare company Baxter International has agreed to sell its US generic injectables business to Jordan-based multinational group Hikma Pharmaceuticals for approximately US$112m.

US healthcare company Baxter International has agreed to sell its US generic injectables business to Jordan-based multinational group Hikma Pharmaceuticals for approximately US$112m.

Baxter said the sale of this business would allow it to concentrate on its proprietary, enhanced packaging offerings and formulation technologies. The company expects to record an after-tax special charge in the third quarter of approximately US$70m to write down the assets of the business.

Hikma is buying Baxter’s high-volume, generic injectable products in vials and ampoules, which are sold primarily in the US. They include products to treat chronic pain, as well as anti-infective and anti-emetic products.

Hikma said the acquisition would position the company as the second-largest injectables supplier in the US with a combined market share of more than 15%. The Baxter generic injectables business reported sales of approximately US$170m in 2009.

The Cherry Hill, NJ, manufactu