M&A Deal Summary

Hikma Acquires Custopharm

On September 27, 2021, Hikma acquired life science company Custopharm from Water Street Healthcare Partners for 375M USD

Acquisition Highlights
  • This is Hikma’s 3rd transaction in the Life Science sector.
  • This is Hikma’s largest (disclosed) transaction.
  • This is Hikma’s 4th transaction in the United States.
  • This is Hikma’s 1st transaction in California.

M&A Deal Summary
Date 2021-09-27
Target Custopharm
Sector Life Science
Buyer(s) Hikma
Sellers(s) Water Street Healthcare Partners
Deal Type Add-on Acquisition
Deal Value 375M USD

Target

Custopharm

Carlsbad, California, United States
Custopharm is a generic injectable drug services company. The company specializes in developing a range of generic injectable products, including those with complex formulations. Custopharm also offers regulatory consulting services to help customers with drafting and filing abbreviated new drug applications (ANDAs). Custopharm was formed in 2005 and is based in Carlsbad, California.

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Buyer(S) 1

Buyer

Hikma

London, United Kingdom
Category Company
Founded 1978
Sector Medical Products
Employees9,100
Revenue 2.9B USD (2023)
DESCRIPTION

Hikma develops, manufactures, and markets a broad range of branded and non-branded generic and in-licensed products. Hikma operates through three businesses: “Branded”, “Injectables” and “Generics”, based principally in the Middle East and North Africa ("MENA"), where it is a market leader, the United States and Europe. Hikma was founded in 1978 and is based in London, England.

DEAL STATS #
Overall 9 of 10
Sector (Life Science) 3 of 4
Type (Add-on Acquisition) 8 of 8
State (California) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-08 EIMC United Pharma

Cairo, Egypt

EUP is a pharmaceutical manufacturing company specialising in oncology products. The company operates in therapeutic segments like Oncology, Anesthesia, Cardiac, and Rheumatology. EIMC United Pharma offers oncology and intensive care products such as Sterile Oncology, Sterile Non-Oncology, Capsules, Tablets, and Liquid Dosage forms

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-17 Teligent - Sterile Injectable Assets

Mississauga, Ontario, Canada

Teligent's Sterile Injectable Assets includes a portfolio of 25 sterile injectable products, three in-licensed ophthalmic products, and a pipeline of seven additional products. Teligent's Sterile Injectable Assets are based in Mississauga, Ontario.

Buy $46M

Seller(S) 1

SELLER

Water Street Healthcare Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Water Street is a specialist private equity firm that targets investments in healthcare companies. Specific areas of interest within healthcare include diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals, and specialty services. Water Street targets non-core units of larger corporations and private middle-market companies. Transactions are typically valued between $50 and $500 million. Water Street does not invest in biotechnology, traditional healthcare facilities (hospitals, nursing homes) or early-stage companies without positive cash flow. Water Street was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 31 of 31
Sector (Life Science) 7 of 7
Type (Add-on Acquisition) 19 of 19
State (California) 6 of 6
Country (United States) 30 of 30
Year (2021) 2 of 2
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Orgentec

Mainz, Germany

Orgentec is a diagnostics company focused on developing and producing tests, primarily enzyme-linked immunosorbent assays (ELISA), that help diagnose the increasing number of people impacted by autoimmune disorders and infectious diseases. Orgentec was founded in 1988 and is based in Mainz, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Renovo Solutions

Irvine, California, United States

Renovo Solutions is a provider of health care and life sciences technology management (HTM) programs that deliver structured, transparent, and customer-focused equipment support services to health care and biopharmaceutical sites nationwide. Renovo Solutions was founded in 2009 and is based in Irvine, California.

Buy -
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