Latest news for Hikma Pharmaceuticals (OTC:HKMPF) Stock

Hikma Pharmaceuticals PLC is engaged in developing, manufacturing, and marketing a broad range of generic, branded and non-branded, in-licensed pharmaceutical products. The firm operates in three segments: injectables, generics, and branded. The majority of the revenue for the company is generated from its injectables segment under which it supplies hospitals across markets with generic injectable products, supported by its manufacturing facilities. Geographically, North America is the company's key revenue generating market followed by Middle East and North Africa, United Kingdom, Europe and the rest of the world.

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The FDA is actively seeking new suppliers to address the shortages of methotrexate, a widely used cancer drug in short supply since March. 

Methotrexate is an injected medication utilized to treat various cancers and autoimmune diseases like rheumatoid arthritis, as stated by the National Cancer Institute.

Drug Shortages in Focus: How FDA&#39;s Quest for New Methotrexate Suppliers Affects the Cancer Treatment Landscape

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A Peek Into The Markets: US Stock Futures Mostly Higher; Crude Oil Rises Over 1%

Hikma Bolsters Injectable Portfolio With $375M Custopharm Acquisition

HIKMA PHARMACEUTICALS PLC by Hikma Pharmaceuticals plc.

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Hikma Pharmaceuticals PLC 2023 Q2 - Results - Earnings Call Presentation

Hikma Pharmaceuticals GAAP EPS of $59.30, revenue of $1.43B

Hikma Pharmaceuticals PLC (HKMPF) Q2 2023 Earnings Call Transcript

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Hikma Pharmaceuticals PLC (HKMPF) Q4 2023 Earnings Call Transcript

Hikma Pharmaceuticals GAAP EPS of $0.86, revenue of $2.87B

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Press Releases

Hikma marks two-year anniversary of KLOXXADO® launch by surpassing 375,000 doses donated in the US

Hikma Pharmaceuticals

The FDA is actively seeking new suppliers to address the shortages of methotrexate, a widely used cancer drug in short supply since March.&nbsp;

Methotrexate is an injected medication utilized to treat various cancers and autoimmune diseases like rheumatoid arthritis, as stated by the National Cancer Institute.

According to information released by U.S. Senators Gary Peters and Debbie Stabenow, shortages have been exacerbated by a disruption in supply from India-based manufacturer Intas Pharmaceuticals, which caters to the U.S. via its Accord Healthcare unit.

According to the American Society of Health-System Pharmacists, the suppliers facing shortages or backorders for methotrexate injections include Accord Healthcare,&nbsp;Fresenius Kabi,&nbsp;Pfizer Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/pfe#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PFE</a>),&nbsp;Teva Pharmaceutical Industries Ltd&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/teva#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TEVA</a>), and Hikma Pharmaceuticals plc (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hkmpf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HKMPF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/hkmpy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HKMPY</a>).

In a recent announcement, the FDA revealed its search for additional temporary suppliers for two other cancer chemotherapies: cisplatin and carboplatin. However, the FDA did not initially disclose its efforts to find new sources of methotrexate.

To alleviate the scarcity, the FDA has already approved the sale of cisplatin manufactured by Qilu Pharmaceutical in China within the U.S.,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/healthcare-pharmaceuticals/us-seeks-new-suppliers-highly-used-cancer-drug-methotrexate-short-supply-2023-06-09/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters</a>&nbsp;reported.

Currently, a list maintained by the FDA indicates that over 130 drug formulations are experiencing shortages in the United States.

Methotrexate functions by impeding the growth of cancer cells and suppressing the immune system.

Drug Shortages in Focus: How FDA's Quest for New Methotrexate Suppliers Affects the Cancer Treatment Landscape

Pre-open movers

U.S. stock futures traded mostly higher in early pre-market trade after recording a slight gain in the previous session. Investors are awaiting earnings results from Aurora Cannabis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NYSE">ACB</a>) and Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>).

Data on durable goods orders for August will be released at 8:30 a.m. ET. A headline rebound of 0.6% is expected for August following a 0.1% decline a month ago. The Dallas Fed manufacturing index for September is scheduled for release at 10:30 a.m. ET. Chicago Fed President Charles Evans is set to speak at 8:00 a.m. ET, while Federal Reserve Bank of New York President John Williams will speak at 9:00 a.m. ET.

Futures for the Dow Jones Industrial Average jumped 126 points to 34,800.00 while the Standard &amp; Poor&rsquo;s 500 index futures rose 7 points to 4,452.75. Futures for the Nasdaq 100 index fell 28.75 points to 15,290.00.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 42,931,400 with around 688,030 deaths. India reported a total of at least 33,678,780 confirmed cases, while Brazil confirmed over 21,351,970 cases.

<a href="https://www.benzinga.com/investing/global-oil-storage-trends/">Oil prices </a>traded higher as Brent crude futures rose 1.2% to trade at $78.15 per barrel, while US WTI crude futures rose 1.2% to trade at $74.90 a barrel. The total number of active U.S. oil rigs climbed by 10 to 421 rigs this week, Baker Hughes Inc reported Friday.

A Peek Into Global Markets

 
European markets were higher today. The Spanish Ibex Index rose 1.3% and STOXX Europe 600 Index gained 0.3%. The French CAC 40 Index rose 0.6%, London&rsquo;s FTSE 100 gained 0.3% while German DAX 30 climbed 0.9%. Loans to households in the Eurozone increased 4.2% in August, unchanged from the earlier month&#39;s growth. Producer prices in Spain surged 18% year-over-year in August following a 15.6% increase in the prior month.

Asian markets traded mostly higher today. Japan&rsquo;s Nikkei 225 fell 0.03%, Hong Kong&rsquo;s Hang Seng Index rose 0.07%, while China&rsquo;s Shanghai Composite Index fell 0.84%. Australia&rsquo;s S&amp;P/ASX 200 rose 0.6% and India&rsquo;s BSE Sensex rose 0.1%. The index of leading economic indicators in Japan, slipped to 104.1 in July from 104.2 in the prior month, while index of coincident economic indicators declined to 94.4 from 94.6 a month ago.

Broker Recommendation

SVB Leerink initiated coverage on Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) with an Outperform rating and announced a price target of $494.

Humana shares fell 0.1% to $398.34 in pre-market trading.

<a href="https://www.benzinga.com/analyst-ratings/">Check out other major ratings here </a>

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Breaking News 

<ul>
	<li>Some key China-based suppliers of Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have halted production at their facilities to follow Beijing&#39;s tighter energy consumption policy, Nikkei Asia reported, citing suppliers.</li>
	<li>The Middleby Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIDD#NASDAQ">MIDD</a>) reported the acquisition of Imperial Commercial Cooking Equipment.</li>
	<li>Terminix Global Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMX#NYSE">TMX</a>) reported the resignation of COO Kim Scott and affirmed its full-year 2021 guidance.</li>
	<li>Hikma Pharmaceuticals Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HKMPF#OTC">HKMPF</a>) agreed to acquire US-based generic sterile injectables producer Custopharm Inc from Water Street Healthcare Partners.</li>
</ul>

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<a href="https://www.benzinga.com/news/">Check out other breaking news here</a>

<ul>
	<li>Hikma Pharmaceuticals Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HKMPF#OTC">HKMPF</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/amp/content/23105966" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">agreed to acquire</a>&nbsp;US-based generic sterile injectables producer&nbsp;Custopharm Inc&nbsp;from&nbsp;Water Street Healthcare Partners.</li>
	<li>Hikma will pay an initial cash consideration of $375 million, with an option for a further $50 million based on the achievement of certain commercial milestones.</li>
	<li>Custopharm currently markets its products in the US through its commercial arm&nbsp;Leucadia Pharmaceuticals.</li>
	<li>Since partnering with Water Street in 2015, it has received 13 US approvals, with four first-to-market Abbreviated New Drug Application (ANDA) approvals, including one with Competitive Generic Therapy (CGT) designation and one novel 505(b)(2) NDA approval.</li>
	<li>The acquisition will add 13 products bringing Hikma&#39;s US portfolio of close to 130 injectable medicines.</li>
	<li>Custopharm is expected to add $80 million in annual revenue and boost Hikma&#39;s injectables&#39; operating margin.</li>
	<li>Price Action:&nbsp;HKMPF stock closed at $34.25 on Friday.</li>
</ul>

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