Hikma Pharmaceuticals Plc Trading Statement (4932O)
May 18 2018 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 4932O
Hikma Pharmaceuticals Plc
18 May 2018
London, 18 May 2018 - Hikma Pharmaceuticals PLC (Hikma, Group)
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated Ba1 Moody's /
BB+ S&P, both stable), the multinational pharmaceutical group,
will hold its Annual General Meeting today and provide an update on
recent trading.
Siggi Olafsson, Hikma's CEO, said: "The year is off to an
encouraging start. In the first four months, our Injectables,
Generics and Branded businesses are benefitting from our broad
product portfolio and recent product launches. Our efforts to
reduce costs across the Group are on track and we continue to focus
on enhancing and investing in our pipeline. Our cash position
remains very healthy and our balance sheet is strong. Altogether,
these factors reinforce our positive outlook for the Group and
enable us to reiterate our guidance for the full year."
Injectables
Our global Injectables business is performing well. In the US,
the breadth of our product portfolio, enhanced by six product
launches in the year to date, and our strong quality track record
are enabling us to meet increased demand across our marketed
portfolio. This demand is more than offsetting increasing
competition on certain key products. We continue to expect
competition to accelerate over the course of the year. In Europe,
we are benefitting from good demand for our marketed products in
each of our key markets. In MENA, strong revenue growth is being
driven by recent launches, including an acceleration in biosimilar
sales.
For the full year, we continue to expect Injectables revenue to
be in the range of $750 million to $800 million and core
Injectables operating margin to return to more normalised levels in
the low to mid 30s.
Generics
The Generics business has had a good start to the year. Whilst
market conditions in the US retail market remain challenging, we
are benefitting from a favourable product mix. We continue to focus
on optimising our cost base and remain on track to complete the
consolidation of our manufacturing and distribution facilities in
the second half of the year, as previously announced. During the
quarter we initiated our repeat clinical endpoint study for generic
Advair Diskus(R) . The study is proceeding as planned and we expect
to submit a response to the FDA with the new clinical data as early
as possible in 2019.
We reiterate our expectations for Generics revenues in 2018 in
the range of $550 million to $600 million and core Generics
operating margin in the low-single digits.
Branded
Our Branded business is also performing well. In our top
markets, demand for our broad portfolio of products and recent
product launches is driving sales growth. As in 2017, we expect a
stronger second half, reflecting the usual seasonality of this
business.
We continue to expect Branded revenue growth for the full year
to be in the mid-single digits in constant currency as we benefit
from new launches of our branded generics and in-licensed products
across our key markets.
We will announce our interim results for the six months to 30
June 2018 on 15 August 2018.
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal
VP Corporate Strategy
and Director of Investor +44 (0)20 7399 2760/ +44
Relations 7776 477050
Virginia Spring +44 (0)20 3892 4389/ +44
Investor Relations Manager 7973 679502
FTI Consulting
Ben Atwell/Brett Pollard +44 (0)20 3727 1000
About Hikma
Hikma helps put better health within reach every day for
millions of people in more than 50 countries around the world. For
40 years, we've been creating high-quality medicines and making
them accessible to the people who need them. We're a global company
with a local presence across the United States (US), the Middle
East and North Africa (MENA) and Europe, and we use our unique
insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed
to our customers, and the people they care for, and by thinking
creatively and acting practically, we provide them with a broad
range of branded and non-branded generic medicines. Together, our
8,500 colleagues are helping to shape a healthier world that
enriches all our communities. We are a leading licensing partner in
the MENA region, and through our venture capital arm, are helping
bring innovative health technologies to people around the world.
For more information, please visit www.hikma.com.
LEI: 549300BNS685UXH4JI75
(c)2018 Hikma Pharmaceuticals PLC. All rights reserved.
This information is provided by RNS
The company news service from the London Stock Exchange
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