Hikma leaps as it confirms unsolicited interest in Injectables business

Jordanian drugmaker Hikma Pharmaceuticals (LSE: HIK) saw its shares jump 8.1% to£9.365 on Friday, after the company confirmed that it is reviewing options following receipt of several unsolicited enquires expressing interest in its injectables business.

It was not made clear whether the approaches have been for Hikma's global or just US injectable drug business, but Actavis, Novartis' Sandoz unit and Teva have been named in the media as possible buyers.

Commenting on the news, analysts at Panmure Gordon said: “After Friday’s appreciation to within 7% of our price target, the key question shifts to when to take profits,” adding: “Although it may be tempting to take profits at this level, we point to further circumstantial evidence at competitor Hospira which may results in upgrades to Hikma consensus forecasts.