Shares in Pfizer rivals Hikma, Fresenius rally after tornado hits factory

LONDON, July 20 (Reuters): Shares in UK pharmaceutical company Hikma rose by the most in 10 months on Thursday, hitting an 18-month high, following news of tornado damage to a US facility owned by competitor Pfizer, which boosted other drugmakers' stock.

Pfizer said on Wednesday its plant in Rocky Mount, North Carolina, which is one of the largest sterile injectable product facilities in the world, suffered heavy damage from a tornado.

Hikma shares rose by as much as 9.4 per cent in their largest one-day increase since last September. Pfizer is the largest supplier in the US injectables market and Hikma is the second-largest, analysts said.

Hikma's shares were last up nearly 7 per cent on the day, while those in German rival Fresenius, the third-largest supplier to the US injectables market, were up by 4.84 per cent

"It is a very large manufacturing facility, therefore I think the read across to Hikma is that they are the second-largest supplier and they will benefit from the problems Pfizer has supplying the market," Stifel healthcare analyst Max Herrmann said.