Boehringer Ingelheim, the German drugmaker, has sold its US generics business for $2.7 billion to London-based Jordanian-British owned Hikima Pharmaceuticals. At the same time, it has taken a 6.7% stake in the company. 

The acquisition price for Roxane is $1.2 billion, but Boehringer is also picking up $40 million in Hikima shares along with milestone payments of up to $125 million.

Nucleus of the German company’s generics arm is Roxane, based in the US state of Ohio. The firm produces and markets generic versions of Boehringer’s products, along with some of its

In 2014, Hikima bought Boehringer subsidiary Bedford Laboratories, which manufactures injectables.