Hikma Pharmaceuticals has signed an asset purchase agreement with Insys Therapeutics to acquire a complementary manufacturing platform and two pipeline products. Through the acquisition, the UK-based multinational pharmaceutical company has expanded its existing nasal spray capabilities.
In June 2019, Insys filed petitions seeking relief under Chapter 11 of the US Bankruptcy Code. As part of this process, Insys initiated a court-supervised process to sell its assets. This process has now concluded with respect to certain assets, and Hikma has agreed to acquire unit-dose nasal and sublingual spray manufacturing equipment, as well as two pipeline products, naloxone 505(b)2 nasal spray and epinephrine 505(b)2 nasal spray.
Brian Hoffmann, President of Generics, said: “Hikma is the largest supplier of generic nasal sprays in the US and we have been looking for ways to build upon our strong manufacturing platform and expand our product portfolio. This acquisition adds unit-dose nasal spray manufacturing equipment, as well as two complex products to our pipeline. This new technology expands our existing nasal spray capabilities, creating a comprehensive platform, which we can leverage for both internal and partnership programmes.”