Acquisitions should continue to help Hikma compete in the global generic drug industry.
Hikma Pharmaceuticals reported better-than-expected interim results, leading the company to increase its 2018 outlook due to strong product demand and signs of recovery in its U.S. business. We expect to raise our fair value estimate after we adjust our model's assumptions, with no change in our no-moat rating. Hikma's upgraded generic revenue guidance for the year rose to $600 million-$650 million (up from $550 million-$600 million) which is higher than our prior $575 million forecast. While we...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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