Hikma Pharmaceuticals' Results Affected by Persistent Generic Market Erosion
Hikma Pharmaceuticals reported weaker-than-expected interim results, leading the company to reduce its 2017 outlook due to worsening competitive pressures in the U.S. generics business, a trend we've seen with peers in the industry. We expect to reduce our fair value estimate as we adjust our model's assumptions, with no change in our no-moat rating.Revenue grew 5% in constant currency with injectable growth offsetting generic drug market erosion and branded segment headwinds. Management's $200...
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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