Cherry Hill plant included in sale of Baxter unit
Baxter International Inc., of Deerfield, Ill., said Friday that it is selling its U.S. generic injectables business, which includes a manufacturing plant in Cherry Hill, to Hikma Pharmaceuticals P.L.C. for about $112 million.
Baxter International Inc., of Deerfield, Ill., said Friday that it is selling its U.S. generic injectables business, which includes a manufacturing plant in Cherry Hill, to Hikma Pharmaceuticals P.L.C. for about $112 million.
The purchase will position Hikma, headquartered in London, as the second largest injectable suppler in the United States with a combined market share of more than 15 percent.
The deal includes the 372,000-square-foot facility in Cherry Hill and a distribution center in Memphis, Tenn. About 750 employees will be transferred, as well.
Hikma already has U.S. operations in Eatontown, N.J. - Chris Hepp