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Jacobs Wins Pfizer's Chinese Bio-Facility Project Contract
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Jacobs Engineering Group Inc. recently received a contract from Pfizer Inc. (PFE - Free Report) to develop a new state-of-the-art biotechnology centre in China. The new contract would not only boost Jacobs’ organic growth but is also expected to reinforce its Life Sciences business in the near term.
Pfizer is making a $350 million investment for constructing a new Global Biotechnology Center in the Hangzhou Economic Development Area of China. The project is anticipated to be completed by 2018. The new Biotechnology Center would produce unique monoclonal antibodies along with serving as a clinical supply site and process development centre for various biologic medicines in the nation.
Per the newly awarded contract, Jacobs would offer designing as well as engineering, construction support and procurement services to Pfizer’s new Chinese investment project. Financial details of the deal have not been disclosed as yet.
Moving Forward
Jacobs is one of the most popular technical service providers in the world. The company offers premium professional, technical and construction services to diversified public, industrial and commercial clients. We believe that Pfizer deal would be highly beneficial for Jacobs’ Life Sciences business. Notably, higher expenditures by biopharmaceutical majors are currently driving revenues for this business line. Also, new regulatory approvals secured for next generation therapies are reinforcing the business.
Share Price and Zacks Rank
Share price of the company was $54.64 per share as of Aug 23, 2016. We expect the aforesaid announcement to result in stock price movement in the near term.
Jacobs, which currently carries a Zacks Rank #3 (Hold), is on track to boost financials via new contracts, improved backlogs, greater operational efficiency and increased innovations. However, headwinds like a strong U.S. dollar, intense competition and dismal pricing environment in the global mining and energy market raise concerns.
Stocks to Consider
Some better-ranked stocks in the industry are Willdan Group, Inc. (WLDN - Free Report) , and Armstrong World Industries, Inc. (AWI - Free Report) . Both the companies currently hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
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Jacobs Wins Pfizer's Chinese Bio-Facility Project Contract
Jacobs Engineering Group Inc. recently received a contract from Pfizer Inc. (PFE - Free Report) to develop a new state-of-the-art biotechnology centre in China. The new contract would not only boost Jacobs’ organic growth but is also expected to reinforce its Life Sciences business in the near term.
Pfizer is making a $350 million investment for constructing a new Global Biotechnology Center in the Hangzhou Economic Development Area of China. The project is anticipated to be completed by 2018. The new Biotechnology Center would produce unique monoclonal antibodies along with serving as a clinical supply site and process development centre for various biologic medicines in the nation.
Per the newly awarded contract, Jacobs would offer designing as well as engineering, construction support and procurement services to Pfizer’s new Chinese investment project. Financial details of the deal have not been disclosed as yet.
Moving Forward
Jacobs is one of the most popular technical service providers in the world. The company offers premium professional, technical and construction services to diversified public, industrial and commercial clients. We believe that Pfizer deal would be highly beneficial for Jacobs’ Life Sciences business. Notably, higher expenditures by biopharmaceutical majors are currently driving revenues for this business line. Also, new regulatory approvals secured for next generation therapies are reinforcing the business.
Share Price and Zacks Rank
Share price of the company was $54.64 per share as of Aug 23, 2016. We expect the aforesaid announcement to result in stock price movement in the near term.
JACOBS ENGIN GR Price
JACOBS ENGIN GR Price | JACOBS ENGIN GR Quote
Jacobs, which currently carries a Zacks Rank #3 (Hold), is on track to boost financials via new contracts, improved backlogs, greater operational efficiency and increased innovations. However, headwinds like a strong U.S. dollar, intense competition and dismal pricing environment in the global mining and energy market raise concerns.
Stocks to Consider
Some better-ranked stocks in the industry are Willdan Group, Inc. (WLDN - Free Report) , and Armstrong World Industries, Inc. (AWI - Free Report) . Both the companies currently hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>