|Bid||2,398.00 x 0|
|Ask||2,399.00 x 0|
|Day's range||2,280.00 - 2,430.00|
|52-week range||1,596.00 - 2,670.00|
|Beta (5Y monthly)||-0.02|
|PE ratio (TTM)||11.97|
|Earnings date||07 Aug 2020|
|Forward dividend & yield||0.48 (2.25%)|
|Ex-dividend date||19 Mar 2020|
|1y target est||23.92|
Hikma's Chief Executive Siggi Olafsson said the company will start supplying batches of the drug "soon," and Gilead is expected to distribute it. "The terms of the deal are confidential, we are simply a contract manufacturer for Gilead - they order products from us as they expect the sales to be," Olafsson told Reuters in a telephone interview. A pledge by Gilead to send nearly all of its supplies to the United States between July and September stirred concerns about availability elsewhere.
The company's largest unit, which supplies needle-based drugs primarily to hospitals, posted double-digit growth in revenue, driven by demand for products to treat patients infected with the coronavirus in the United States and Europe. Hikma said it expects 2020 revenue from the injectables business to be between $950 million and $980 million, compared with its previous forecast of growth in the low to mid-single digits. It also raised the revenue outlook for its generics division to a range of $720 million to $760 million, from $700 million to $750 million.
The injectables division will also take on production of U.S. based Gilead's antiviral remdesivir at Hikma's manufacturing facility in Portugal. "Today's deal with Gilead to supply remdesivir highlights Hikma's growing strategic importance as a trusted source of essential medicines," said a research note from Peel Hunt analysts who have a "buy" rating on the stock. Hikma, founded in Jordan in 1978, said it now expects 2020 revenue from the injectables business of between $950 million and $980 million.