01.03.2013 • NewsHikmaHikma PharmaceuticalsPharmaceuticals

Hikma Eyes Options for Injectables Business

Hikma Pharmaceuticals said it is reviewing options for its lucrative injectables business after receiving several unsolicited expressions of interest, driving up its shares nearly 8% to a life-high.

The injectables business could fetch Hikma between $1 billion and $2 billion, four analysts estimated.

"There was no intention of divesting that business ... but if somebody wants to pay a very good return for that business they would have to look seriously at that," a spokeswoman for Hikma told Reuters.

It was not surprising that Hikma's injectables business has attracted suitors, Jefferies & Co analyst James Vane-Tempest said. "Injectables is a "hot area" for generics M&A right now."

Drugmaker Mylan said on Wednesday that it would buy the injectables unit of India's Strides Arcolab for $1.6 billion. It expects global generic injectable drug sales to grow faster than other dosage forms, helped by a raft of patent expiries.

 

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