Hikma Pharmaceuticals Plc Trading Statement (0669A)
February 14 2014 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 0669A
Hikma Pharmaceuticals Plc
14 February 2014
Trading Update
London, 14 February 2014 - Hikma Pharmaceuticals PLC ("Hikma")
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), the fast growing
multinational pharmaceutical group, will announce its full year
results to 31 December 2013 on 12 March 2014. In advance of this,
the company is providing an update to the market on the strong
performance of its Injectables and Generics businesses towards the
end of 2013.
Since issuing our Interim Management Statement on 8 November
2013, the Injectables and Generics businesses continued to perform
very well and, as a result, Group revenue growth for the full year
in 2013 will now be around 23%, ahead of our previous guidance of
around 20%.
Injectables
Our global Injectables business has performed very well, with
revenue growth of around 14%. Profitability has improved and we now
expect an adjusted operating margin of around 30%. This reflects a
particularly strong performance in the US, where we are focusing on
higher value products, improved pricing, new product launches and
tight cost control. We are confident that our Injectables business
will continue to deliver strong revenue growth and an adjusted
operating margin above 30% in 2014.
Generics
Our Generics business has benefited from strong doxycycline
sales and we now expect Generics revenue of around $270 million for
the full year. Looking ahead, we expect Generics revenue to be
lower in 2014 due to increased competition in the US doxycycline
market.
Branded
Our Branded business has performed in line with expectations,
with revenue growth of around 5% for the full year, or 8% in
constant currency. We continue to expect adjusted operating margin
of around 24%, up more than 50 basis points from last year, as a
result of our strategic decision to cut low margin tender sales, a
focus on higher value products and greater emphasis on operational
efficiencies.
We will provide our regular detailed guidance in respect of
2014, both for the business segments and the Group overall, when we
announce our 2013 Preliminary Results on 12 March 2014.
-- 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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