By Conor Coyle
Date: Tuesday 14 Nov 2017
LONDON (ShareCast) - (ShareCast News) - Shares of FTSE 250-listed pharma firm Hikma Pharmaceuticals dropped in early trading on Tuesday after it announced the acquisition of products to the tune of $3m from a German partner.
Hikma has purchased six products from Boehringer Ingelheim, which holds a 17% stake in the UK-listed company.
Five of the products emanate from Boehringer's German operations, namely Alupent, Gastrozepin, Paracefan, Partusisten, Spiropent, while a further product known as Mantadan will arrive from its Italian operation.
Hikma estimates that the transition period for the products will be just under three years, in a transaction which will be worth $3m.
The firm's stock was down 2.24% to 939p as of 09:02 GMT following the announcement of the transaction.