Report
Michael Waterhouse
EUR 101.80 For Business Accounts Only

Acquisitions should continue to help Hikma's ability to compete in the generic drug industry.

After recent greater-than-expected competition and price erosion in the generic drug industry, we’ve downgraded our moat rating for generic manufacturers under our coverage to none--including Teva, Mylan, Perrigo, Dr. Reddy, and Hikma--after reviewing our assumptions. We already had no-moat ratings for Endo and Mallinckrodt. The changes lead to small fair value estimate reductions for Perrigo, Dr. Reddy, and Hikma, but the change did not materially affect our valuations for Teva, Mylan, or Akorn...
Underlying
Hikma Pharmaceuticals Plc

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®.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Waterhouse

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