Boehringer Ingelheim to Sell Roxane for $2.65 Billion

Hikma Pharmaceuticals will purchase Ridgefield-based Boehringer Ingelheim’s Roxane for $2.65 billion, the company announced today.

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.

The generic drug company is based in Columbus, Ohio.

“This transaction has significant strategic value for us, transforming our position and scale in the US generics market. Roxane’s impressive portfolio, attractive pipeline and R&D expertise, focusing on higher value, niche and differentiated products, will create a platform for sustainable long-term growth,” Said Darwazah, CEO of Hikma said in a statement. “The acquisition also significantly expands out manufacturing capacity and technological capabilities. Roxane has an excellent team of highly skilled employees and we are very excited about the value they will bring to Hikma.”

Boehringer Ingelheim officials said the deal will have little impact on the company’s Ridgefield facility, the News Times reports.

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