Un S2 exigeant après une performance S1 délicate - ACHAT - OC 27,8£
Le groupe jordanien a pré publié hier soir son CA S1 en amont de ses résultats complets prévus le 24 août prochain. En première approche, les ventes de ce S1 se sont révélées décevantes, pénalisées tout particulièrement par la franchise Générique. Bien que la Guidance annuelle en ventes soit confirmée en 2016 (entre 2 et 2,1Mds$), la marge de la franchise générique a été ajustée à la baisse (entre 30 et 40m$ vs 99m$ att) du fait du mix produits ainsi que de coûts de structures supérieurs aux attentes. La guidance moyen terme est maintenue. Nous maintenons notre recommandation à ACHAT considérant qu'une pression sur le titre représenterait une bonne opportunité MT.Hikma Pharmaceuticals is a pharmaceutical company engaged in developing, manufacturing, and marketing a range of branded and non-branded generic pharmaceutical products across the U.S., the Middle East and North Africa, and Europe. Co.'s business segments are: Injectables, which sells specialized generic injectable products, including sterile liquid, powder, lyophilized and cytotoxic products; Generics, which sells non-injectable generic products that include amoxicillin, buprenorphine, butalbital, acetaminophen and caffeine, colchicine, and fluticasone; and Branded products, which sells branded generics and in-licensed products including Amoclan®, Blopress®, Omnicef®, Prograf® and Suprax®.
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