Hikma Pharmaceuticals Plc Trading Statement (6664I)
July 08 2013 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 6664I
Hikma Pharmaceuticals Plc
08 July 2013
Hikma upgrades 2013 Group revenue guidance
London, 8 July 2013 - Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing multinational
pharmaceutical group, is today updating the market on current
trading.
Since issuing our Interim Management Statement on 16 May 2013,
all of our businesses have continued to perform well.
Generics
Our Generics business has continued to benefit from strong
doxycycline sales. We have remained focused on the remediation of
our Eatontown facility and are slowly reintroducing products to the
market. Given the excellent performance of doxycycline, we are
raising our full year guidance for this business to revenue of
around $200 million with a reported operating margin of above
30%.
Branded
Our Branded business remains on track to meet our current full
year guidance of around 9% revenue growth (11% in constant
currency), with adjusted operating margin in line with 2012. Due to
the timing of shipments, Branded revenue growth is expected to be
stronger in the second half of the year.
Injectables
Our Injectables business has continued to perform well, driven
by strong performances in the US and Europe. We are also seeing
good demand for our products in the MENA region, where we have won
some key tenders. We expect these tenders will drive MENA revenue
growth in the second half of the year. We continue to expect the
global Injectables business to deliver low double digit revenue
growth for the full year.
Overall, we now expect Group revenue to grow by around 17% in
2013, up from our previous guidance of around 13%.
Said Darwazah, Chief Executive Officer of Hikma said:
"We are performing well across all of our businesses and I am
pleased to be able to raise our Group guidance for the full year
once again. Overall, our diversified business model is positioning
the Group to deliver another strong year in 2013."
We will announce our interim results for the six months to 30
June 2013 on 21 August 2013.
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, VP Corporate Strategy and Investor Relations +44
(0)20 7399 2760/ +44 7776 477050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399
2765/ +44 7818 060211
FTI Consulting
Ben Atwell/ Julia Phillips/ Matthew Cole +44 (0)20 7831 3113
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group
focused on developing, manufacturing and marketing a broad range of
both branded and non-branded generic and in-licensed products.
Hikma operates through three businesses: "Branded", "Injectables"
and "Generics", based principally in the Middle East and North
Africa ("MENA"), where it is a market leader, the United States and
Europe. In 2012, Hikma achieved revenues of $1,108.7 million and
profit attributable to shareholders of $100.3 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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