- Hikma Pharmaceuticals said it had signed an asset purchase agreement with Insys Therapeutics to acquire a complementary manufacturing platform and two pipeline products.

Hikma acquired 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 after Insys was forced to sell its assets after initiating Chapter 11 of the US Bankruptcy Code.

Naloxone is a medication used to block or reverse the effect of opioide, whel epinephrine is a medication used to treat a number of conditions, including anaphylaxis, cardiac arrest, and superficial bleeding.

The announcement comes as the company raised its outlook for its injectables and generics businesses after reporting strong sales in the first half of the year thanks to the launch of new products.

At 9:14am: [LON:HIK] Hikma Pharmaceuticals PLC share price was +107.5p at 1948.5p

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