Hikma Pharmaceuticals Plc Trading Statement (3077E)
November 05 2020 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 3077E
Hikma Pharmaceuticals Plc
05 November 2020
London, 5 November 2020 - Hikma Pharmaceuticals PLC (Hikma,
Group) , the multinational pharmaceutical group, today provides an
update on current trading.
Siggi Olafsson, Hikma's CEO, said: "Hikma is performing well,
maintaining the positive momentum of the first half. The breadth of
our portfolio, the flexibility of our manufacturing capabilities
and the strength of our commercial and distribution channels are
enabling us to supply the medicines most needed by our customers,
including those used in the treatment of COVID-19. We continue to
see good demand for our marketed products and are delivering a
strong performance from new launches. As a result of this solid
progress, we are raising our full year guidance for Generics and
reiterating our current guidance for Injectables and Branded.
Alongside the health and safety of our employees, Hikma is
committed to its purpose of providing high-quality, affordable
medicines and we look forward to the rest of the year with
confidence."
Injectables
We are delivering a good performance in our global Injectables
business. In the US, we have seen lower demand for COVID-19 related
products compared to the first half. Whilst we are seeing the
gradual return of elective surgeries, we do not expect these to
return to normal levels until 2021. In MENA, we are seeing good
demand across our portfolio, including our biosimilar products. In
Europe, we are delivering strong growth from our marketed products
and new launches and are benefitting from increased demand for
contract manufacturing. As COVID-19 cases have risen again across
our geographies, we are working closely with our customers to
ensure a consistent supply of our products.
We are reiterating our guidance for global Injectables core
revenue of between $950 million and $980 million for 2020, with
core operating margin in the range of 38% to 40%.
Generics
Following a strong first half, our Generics business continues
to perform well, supported by a better than expected contribution
from new launches and strong demand across our differentiated
portfolio. We are making good progress on the execution of our
pipeline and are pleased to have launched icosapent ethyl capsules
in the US market, as announced separately today. Following approval
by the US FDA in September, and a swift resolution of outstanding
patent litigation, we have accelerated our launch preparations and
are now releasing limited quantities of icosapent ethyl to our
customers. We are working to increase capacity and expect to be
able to provide greater availability in 2021. We have also made
progress with our pending approval for generic Advair Diskus(R) ,
which we expect to launch in early 2021.
To reflect the stronger-than-expected performance in the year to
date, we are increasing our full year guidance for Generics revenue
to $720 million to $740 million, from our previous guidance range
of $710 million to $730 million. We continue to expect core
operating margin in the range of 18% to 19% for the full year.
Branded
Our Branded business is also performing well. Good demand across
our markets, particularly Egypt, Algeria and Saudi Arabia is
helping to offset some disruptions related to COVID-19. While we
may see some impact on reported revenues from negative exchange
rate movements, we continue to expect Branded revenue growth in
constant currency to be in the mid-single digits for the full year
in 2020.
-- ENDS --
Enquiries:
Hikma (Investors)
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 7776
Affairs 477050
Guy Featherstone +44 (0)20 3892 4389/ +44 7795
Senior Investor Relations Manager 896738
Layan Kalisse +44 (0)20 7399 2788/ +44 7970
Investor Relations Analyst 709912
Teneo (Press)
Charles Armitstead + 44 (0) 7703 330269
Camilla Cunningham + 44 (0) 7464 982426
About Hikma
Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC:
HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB-/stable S&P,
BBB-/stable Fitch and Ba1/stable Moody's)
Hikma helps put better health within reach every day for
millions of people in more than 50 countries around the world. For
more than 40 years, we've been creating high-quality medicines and
making them accessible to the people who need them. Headquartered
in the UK, we are 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 8,600 colleagues are helping to
shape a healthier world that enriches all our communities. We are a
leading licensing partner, 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
(c)2020 Hikma Pharmaceuticals PLC. All rights reserved.
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