Hikma Pharmaceuticals Plc agreed to buy Boehringer Ingelheim GmbH’s Roxane business for $2.65 billion in cash and stock to become the sixth-largest supplier of generic medicines in the U.S.
Hikma will pay $1.18 billion in cash and issue 40 million new shares to Boehringer, the Amman, Jordan-based company said in a statement. It also agreed to make cash payments of up to $125 million based on the achievement of performance milestones.
