Slaughter and May is advising Hikma - acquisition of Roxane

Slaughter and May is advising Hikma Pharmaceuticals PLC ('Hikma') on its acquisition of Roxane from Boehringer Ingelheim ('BI').

The acquisition values Roxane at approximately US$2.65 billion.

Under the acquisition, on closing Hikma will pay cash consideration of US$1.18 billion and will issue 40 million new Hikma shares to BI. Hikma has also agreed to make contingent cash payments of up to US$125 million, subject to the achievement of certain performance milestones.

Roxane is a well-established US specialty generics company that was founded in 1885 as The Columbus Pharmaceutical Company. The business was purchased by Boehringer in 1978 at which point its name was changed to Roxane Laboratories, Inc.

A White & Case team led by Oliver Brahmst is working alongside Slaughter and May, advising Hikma on US law aspects of the transaction.