On May 28, the City of Bedford received notice that Hikma Pharmaceuticals PLC, based in London, has entered into a purchase agreement for the sale of substantially all of Bedford Laboratories assets (Ben Venue’s US injectable generics business.) What this means for the City of Bedford and its residents is a cause for cautious optimism.
Although this purchase agreement does not include the Ben Venue manufacturing facility, which provides jobs and economic stability for both Bedford and the Northeast Ohio region, Hikma has also entered into an exclusivity arrangement to potentially acquire the facility and all of its assets, pending due diligence and customary approvals in both the United States and United Kingdom.
As this process moves forward, we will continue to communicate with the residents of Bedford. Ben Venue has provided employment and economic stability for many years, and our primary focus is to ensure that we do everything in our power to continue that success.
To read the press release regarding this information, click here