Foreign Firms Land 3 Pentagon Defense Contracts

After taking Monday off, the Department of Defense's acquisitions specialists got back to work today, awarding 18 separate defense contracts Tuesday, worth a total of $4.22 billion.

Foreign-listed companies made out particularly well in this latest round of contract awards, with contracts being awarded to:

  • Hikma Pharmaceuticals (LSE: HIK  ) subsidiary West-Ward Pharmaceuticals, which was awarded the first of nine possible one-year long "option" exercises on a contract to supply "various pharmaceutical products" to the U.S. Army, Navy, Air Force, and Marine Corps. This option exercise will be worth up to $70.9 million to Hikma and will run through at least Feb. 26, 2015.
  • Bayer AG (NASDAQOTH: BAYRY  ) subsidiary Bayer Healthcare Pharmaceuticals, which won a similar option-year extension (the second of seven possible) on a contract to supply "various pharmaceutical products" to the U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies. The value of Bayer's option is put at up to $49.4 million, and its contract will now run through at least March 5, 2015.
  • DRS Tactical Systems, a subsidiary of Italy's Finmeccanica (NASDAQOTH: FINMY  ) , which won a $12.6 million firm-fixed-price contract to supply the U.S. Army with improved platform integration kits for M777A2 115mm and M119A3 105mm howitzers. Deliver is due Feb. 27, 2019.

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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

8/28/2015 4:00 PM
BAYRY $136.02 Down -1.68 -1.22%
Bayer AG (ADR) CAPS Rating: ****
FINMY $6.60 Up +0.02 +0.30%
HIK $2264.31 Down -12.69 +0.00%
Hikma Pharmaceutic… CAPS Rating: No stars