HIK Hikma Pharmaceuticals Plc

RNS Number:5456D
Hikma Pharmaceuticals Plc
25 May 2006




               Annual General Meeting of Hikma Pharmaceuticals PLC

                                AGM Trading Update

LONDON, 25 May 2006 - Samih Darwazah, Chairman and Chief Executive of Hikma
Pharmaceuticals PLC ("Hikma") (LSE: HIK) (DIFX: HIK), will today give the
following trading update to shareholders at the Company's Annual General Meeting
in London:

The Group is performing well, supported by the development of new markets in the
Middle East and North Africa (MENA) region and strong injectable sales. The
Group has received a number of product approvals since the start of the year,
including the approval of 5 ANDAs in the Generic business. We continue to invest
in R&D and sales and marketing across all of our businesses and see this as key
to supporting the longer term development of the Group.

Branded Pharmaceuticals
The Group's Branded Pharmaceutical business is performing well. Sales are
developing positively, particularly in Saudi Arabia. We are seeing growth in
newer markets like Sudan and UAE and launched our products in Yemen earlier this
year. We expect these new markets will make an increasing contribution to
Branded sales over the course of the year. As anticipated, the implementation of
a new reference pricing system in Algeria has created an element of uncertainty
in the Algerian market, resulting in lower than normal wholesaler and pharmacy
inventory levels. Whilst this has impacted sales, we believe that we will be
able to offset this over the course of the year, as the Algerian market
stabilises and through strong performances in other markets across the MENA
region.

We continue to seek opportunities to consolidate our position in the MENA
region, as demonstrated by the agreement signed in April to buy the remaining
52.5% of JPI, our Saudi Arabian associate, for approximately $21 million.
Through this acquisition we will be well-positioned to benefit from the strong
growth we are seeing in pharmaceutical markets across the Gulf Cooperation
Council (GCC) countries.

In the four months to 30 April 2006, the Branded business received 16 regulatory
approvals across the MENA markets, 5 of which were for new products. In
addition, the Branded business launched one new product under-licence and signed
one new licensing agreement.

Injectable Pharmaceuticals
The Group's Injectable Pharmaceutical business has had a good start to the year,
with strong sales growth across all targeted regions. In the four months to 30
April 2006, the Injectables business received 18 product approvals, including 10
for new products, and three new products were launched. In the United States we
have set up a specialised distribution company, Hikma Pharmaceuticals (USA)
Inc., with a dedicated sales force for injectables. Across the Injectables
business, we continue to benefit from ongoing investment in sales and marketing.

Generic Pharmaceuticals
In our Generic Pharmaceuticals business, the operating environment in the United
States remains highly competitive, with pricing pressure continuing as expected.
We remain focused on reducing our raw material costs to help mitigate this
challenging market environment.

In the four months to 30 April 2006, the Generics business received 5 ANDA
approvals, including 3 for new products. Further approvals and product launches
are anticipated later this year.

Overall, we remain confident in our ability to deliver strong growth for the
full year.

                                    - ENDS -


Enquiries:

Hikma Pharmaceuticals PLC
Susan Ringdal                                                +44 20 7399 2770
Investor Relations Director

Brunswick Group
Jon Coles / Wendel Verbeek / Justine McIlroy / Alex Tweed    +44 20 7404 5959

About Hikma
Hikma Pharmaceuticals PLC is a multinational pharmaceutical group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed pharmaceutical products. Hikma's operations
are conducted through three businesses: Generic, Branded and Injectable
Pharmaceuticals. Hikma's operations are based principally in the United States,
the Middle East and North Africa ("MENA") region and Europe. In 2005, the Group
had revenue of $262 million and profit attributable to shareholders of $44
million. At 31 December 2005, the Group had over 1,800 employees. For news and
other information, please visit www.hikma.com.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGMUSUBRNKRVUAR

Hikma Pharmaceuticals (LSE:HIK)
Historical Stock Chart
From Jun 2024 to Jul 2024

Hikma Pharmaceuticals (LSE:HIK)
Historical Stock Chart
From Jul 2023 to Jul 2024