Hikma Pharmaceuticals Share Discussion Threads

[broadwood] 26/6/2017 07:12

RNS Number : 0778J
Hikma Pharmaceuticals Plc
26 June 2017
Hikma Pharmaceuticals Announces Leadership and Organisational Changes to US Business
London, 26 June 2017 - Hikma Pharmaceuticals PLC (Hikma, Group) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated Ba1 Moody's / BB+ S&P, both stable), the fast-growing multinational pharmaceutical group, today announces the planned retirement of Michael Raya, CEO of the US business. Following the significant increase in scale over the last several years, Hikma today also announces organisational changes to the US business (West Ward Pharmaceuticals) as well as a number of senior leadership changes and appointments to reflect its enhanced US market positioning and to better align with the global Hikma organisation.
Key changes announced today include:
-- Michael Raya, CEO of the US business will retire at the end of this year. Mr Raya has led the US business for more than 25 years and in that time, has demonstrated strong leadership that has enabled Hikma to grow into a top 10 generics company in the US.
-- From 1 July 2017, the US business will be organized into two entities both of which will report into the Chairman and CEO, Said Darwazah. There will be a US Generics Division and a US Injectables Division.
-- Brian Hoffmann has been promoted to President of the US Generics Division. Mr Hoffmann brings a wealth of experience in strategy, business development, M&A and marketing. Since joining West-Ward/Hikma in 2009, he has been instrumental in the growth of the US business.
-- Riad Mishlawi has been promoted to the role of CEO, Injectables Division, responsible for all injectable operations globally, including the newly formed US Injectables Division. Riad brings both breadth and depth to this role, having worked with the company since 1990 and led the Injectables Division through a period of rapid growth.
-- Mr Raya will continue to have oversight of the US business, working closely with the team for the rest of the year to transition the business.
"I would like to thank Mike for his many years of successful leadership of our US business, and wish him well in his retirement" said Said Darwazah, Chairman and CEO of Hikma. "The leadership and organisational changes we have announced today will bring greater organisational focus and alignment, establish a scalable structure to enable continued growth, and strengthen the US leadership team."
Commenting on his retirement, Mr Raya said, "Together with my colleagues, I am proud of what we were able to accomplish during my time at Hikma/West Ward and leave confident that the company is extremely well-positioned for the future

[bantam175] 22/6/2017 08:17

FTSE 100 trackers have to sell and shorters are always about like sharks (SET LIMIT ORDERS THEN YOU STOCK CAN'T BE LENT).

It's going down on no data and minimum trades.

Wait or bail is all a PI can do.

imho dyor etc

[r ball] 21/6/2017 17:12

Averaging down is like throwing good money after bad. I tend to average up when the trend is your friend.

[sichapman] 21/6/2017 14:16

i bought last monday again to average down my buy price. but it just keeps falling! how much further can this go? i can only hope this recovers once its generic medicine gets the go ahead!

[mrthomas] 21/6/2017 14:00

How low can this get would like to buy in again but need some good news unless get lower but to what

[qruz] 16/6/2017 18:41

FTSE-100 reshuffle on Monday.

HIK is relegated:


[...]

[karateboy] 02/6/2017 22:51

It will go back to Ftse 100 again as soon as it gets approval for its genetic medicine.

[mrthomas] 31/5/2017 19:44

it going out of the FT 100 so i expect the price to drop if gets to below £16 will review it given we in the summer months i rather have cash what with all the uncertainly around at present

But it has been a good share for me in the past year

[pyemckay] 30/5/2017 19:43

A big drop in the forecast eps from 104p to 90p. It may drop out of ftse also. forecast p/e 18 so cant see the upside in the near term given the current issues.

[karateboy] 24/5/2017 17:39

Tomorrow , we should get some small dividend. I am holding from buying any more until the dust settles. Company needs to provide a bit of clarity on its Generic licence issues. How major was the major?

[fez77] 22/5/2017 20:52

Topping the FTSE 100 Fallers - ughh!

Looking for some partial recovery tomorrow.

[henchard] 21/5/2017 22:53

Fez77 - thanks, I think you may well be right. I've been looking a bit into the history of the company. Probably old news to long-term investors here but this article in the Telegraph from 2015 is interesting and seems to have been quite prophetic
The shares do seem cheap after the decline since last year. I'm tempted to buy a few.

[fez77] 21/5/2017 21:31

I would say probably not. I think that there would be many other issues at play apart from money, including reputation, pride, importance and prestige.

[henchard] 21/5/2017 20:20

Friday 12:32



Hikma Pharmaceuticals(LSE: HIK) heads the FTSE 100 fallers board ... now could be the perfect time to buy a slice of the business ...

I see this business is family-controlled. The assets would surely be attractive to a bigger player? Does anyone think the family would sell - at the right price?

[fez77] 21/5/2017 18:39

Interactive Investor:-

Still, analysts remain undeterred. Stifel's Max Herrmann reckons the stock can recapture August highs at the £23 level, with his unchanged target price now suggesting potential upside of 43%. This despite "ongoing difficulties" in delivering the potential of its February 2016 acquisition of Roxane Laboratories.

Herrmann reckons the lowering of its Generics forecasts will slash 4% off Hikma's earnings per share. However, he remains "confident of Hikma's long-term potential, with generic Advair, first to file Zytiga and first to file Xyrem opportunities still to come".

A forecast 2017 price/earnings (PE) ratio of 19.6 times represents an 18% discount to its UK specialty peers and means the firm's potential is not currently reflected in the share price, Herrmann added.

[r ball] 19/5/2017 22:53

Without a Bloomberg terminal difficult to say. But then I cannot justify the £15k per year a subscription costs. Ho hum

[fez77] 19/5/2017 22:21

Never seen that before! Anyone have any idea what happened from 1.30pm onwards today? There must have been something?!

[r ball] 19/5/2017 18:54

10% intra day!

[suetballs] 19/5/2017 15:51

Today's losses erased. Extraordinary!
Suet

[pyemckay] 19/5/2017 14:37

no mention what earnings will be. Thats the warning for me. Sitting on the side lines for now

[bantam175] 19/5/2017 14:23

This is nuts.

They've dropped their revenue forecast by $130million which has brought the share price down from £22 to here £16.5

Reducing the company value by 239970000 (shares in issue)* 5.5 (£'s drop in price)
= £1,319,835,000.

They must be a bargain at this price surely?

Drop over last couple of months seems completely out of all proportion to me.

imho dyor etc.

[karateboy] 19/5/2017 10:29

SP has dropped too much as far as FDA not approving the genetic medicine for a time being. I believe the downward pressure is now mainly due to risk of HIK dropping off the Ftse 100.

[coppertrader] 19/5/2017 10:03

From proactive investor - cantor expets increase in profits over last year.Hikma Pharmaceuticals plc (LON:HIK) has cut its full year revenue guidance as it expects further delays to the approval of its generic version of GlaxoSmithKline plc's (LON:GSK) asthma drug, Advair.Shares dropped 4.90% to 1,616.63p in morning trading. The company, which plans to manufacturer the drug using Vectura's inhaler and a drug formulation, confirmed in a trading update it does not expect to launch the medication this year.Hikma and Vectura have received a complete response letter (CRL) from the US Food and Drug Administration categorising the drug as 'major', which means the application will require significant amendments."This assumes we do not launch our generic version of Advair Diskus in 2017 and reflects the intensifying competitive environment in the US," Hikma said in a statement."Through our focus on portfolio optimisation and continued cost savings, we expect to achieve a slight improvement in the profitability of the generics business in 2017 after incurring additional operational costs related to our generic version of Advair Diskus."As a result, Hikma has slashed its forecast for generic drugs revenue for fiscal year 2017 to US$670mln from the US$800mln it estimated in March.The revision to its guidance for the generic drugs business means the company now expects total revenue to be in the range of US$2.0bn to US$2.1bn, compared to a previous forecast of US$2.2bn. Himka maintains guidance for injectables and branded divisions...Hikma maintained its full year expectations for the injectables business for revenue of between US$800mln and US$825mln.New product launches, including former injectables under its US business Bedford Laboratories, offset rising competition on certain products.In the branded business, the company continues to expects underlying revenue growth in the "mid-single digits" in constant currency in 2017, boosted by a pipeline of new product launches in key markets.On a reported basis,  however, Hikma reiterated that it predicts branded revenue will rise in the "low-single digits" and core operating margin to be broadly in line with 2016, due to the impact of a 51% devaluation of the Egyptian pound against the US dollar.The FTSE 250-listed pharmaceutical company was founded in Jordan in 1978 before expanding into Egypt, the US and Europe. Hikma still a 'buy', says CantorThe company has also had teething problems following its acqusition of Roxane Labarotories last year, with delays to to several product launches, Cantor Fitzgerald noted. The recent CRL from the FDA on Advair suggests the drug won't be available until 2018, adding further pressure on the generics businessHowever, Cantor reiterated a 'buy' rating and target price of 2,500p, saying Hikma is "more than just an Advair generic and we note continued strong performance from the sterile injectables business and seasonality within the branded business"."To be fair to Hikma we always viewed the Advair generic opportunity as more of a windfall recognising that competitive pressures on the franchise are growing (from cheaper non-substitutable alternatives like AirDuo's authorised generic to GSK's fixed triple arriving later in 2017)." the broker added.Cantor said he availability of a generic Advair is probably still a question of "when and not if".Following Hikma's update, Cantor now expects full year profits to be a "slight improvement" on the previous year, compared to the "significant improvement" it had anticipated earlier.

[pyemckay] 19/5/2017 08:11

no guidance on earnings is the warning for me. This will be out of ftse 100 at next review now. 1650 was the approx price it slipped out of the index.