The company has been growing at a sizzling-hot rate over the last several years. Its total revenues more than doubled from $3.3 billion in 2003 to $8.4 billion in 2006, averaging 37% growth a year, while its net income tripled from $618 million to $1.87 billion during the same period.
Just one week ago, the company raised its 2007 full-year earnings per share guidance to $2.34 to $2.36 from $2.20 to $2.30, thanks to the launches of several major generic drugs. In the second quarter alone, the company received six generic drug approvals from the FDA. I believe its new generic launches will make even more meaningful contributions to its 2008 sales numbers.
With a gain of 50% in 2007, the stock broke out last week and headed into a new trading range, which is a sign of its strong momentum. The stock is now trading at about 17 times its estimated 2008 earnings, which is very attractive for such a fast-growing company.
Backed by more than 100 years of experience in the pharmaceutical industry, the company is not just a leader but the clear bellwether in its business. This is a great profit-making opportunity, and you should get in on it! For more details and other great investment ideas, subscribe to Asia Edge.
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