TIDMHIK
RNS Number : 2794R
Hikma Pharmaceuticals Plc
04 November 2021
London, 4 November 2021 - Hikma Pharmaceuticals PLC (Hikma,
Group) , the multinational pharmaceutical group, today provides an
update on current trading.
Siggi Olafsson, Hikma's CEO, said: "Our business continues to
perform strongly, enabling us to reiterate our full year guidance
to achieve another year of growth. We have made excellent progress
year to date, including launching new specialty products,
establishing new partnerships and using our robust balance sheet to
expand our portfolio and pipeline. While the global pandemic
continues to bring some volatility, we are leveraging our resilient
commercial and operational capabilities to drive growth and to
reliably deliver medicines to our customers and patients."
Injectables
Our global Injectables business is performing well. In the US,
we remain on track to deliver growth for the full year, benefitting
from the breadth of our portfolio, which is now over 120 products
and includes 14 products launched in the year to date. While
elective surgeries remain below pre-pandemic levels, our flexible,
high quality manufacturing capabilities and resilient supply chain
continue to underpin our ability to provide a consistent supply of
medicines to our customers.
We are also making good strategic progress in the US, where we
recently announced our first US biosimilar partnership - an
exclusive licensing agreement with Bio-Thera to commercialise their
proposed biosimilar referencing Stelara (R) (ustekinumab). In
addition, we have agreed to acquire Custopharm, a US-based generic
sterile injectables company with a differentiated product portfolio
and R&D pipeline. The transaction is subject to US Federal
Trade Commission approval.
In Europe, we are delivering strong growth from our own
products, including some COVID-19 related medicines. We also
continue to utilise our flexible manufacturing capacity for
contract manufacturing opportunities. In MENA, we are seeing good
demand across most of our markets and are increasing our investment
in the expansion of local manufacturing capacity.
We continue to expect global Injectables revenue to grow in the
mid-single digits and core operating margin to be in the range of
37% to 38%.
Generics
Our Generics business is continuing the strong performance seen
in the first half. This reflects good performance from our
in-market products as well as a strong contribution from recent
launches, which are more than offsetting expected price erosion on
our base business.
We are making good progress expanding our portfolio and pipeline
for this business, especially with respect to our specialty
portfolio, which will be an increasingly important driver of future
growth. In August we launched KLOXXADO(TM) (naloxone hydrochloride)
nasal spray 8mg, which has received good feedback in the community
health and addiction therapy market. We are also building our
portfolio of specialty allergy treatments, signing an exclusive
license agreement with FAES Farma S.A. in September to
commercialise Bilastine tablets, a non-sedating second generation
antihistamine.
We continue to expect our full year Generics revenue to be in
the range of $810 million to $830 million and we now expect core
operating margin to be closer to the top end of our guidance range
of 22% to 24%, reflecting a more favorable product mix.
Branded
The Branded business is performing well, in-line with our
expectations. Algeria is a top performer, with strong demand across
the portfolio and a good performance from recently launched
products. We are also seeing good demand in most of our other
markets. Across the region, we have seen a strong rebound in demand
for anti-infectives and are making progress in the launch of new
products, including the launch of five locally manufactured
oncology products in Algeria.
Building our global network of partners is a key area of focus
for this business. We recently announced an exclusive license
agreement with Almirall S.A. to commercialise Finjuve (TM) , a
finasteride spray for the treatment of androgenic alopecia, in
certain MENA markets.
We continue to expect Branded revenue growth in constant
currency to be in the mid-single digits for the full year in
2021.
We will announce our preliminary results for the year ended 31
December 2021 on 24 February 2022.
-- 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
Claire Scicluna + 44 (0) 7385 395028
About Hikma
Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC:
HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB-/stable S&P and
BBB-/stable Fitch)
Hikma helps put better health within reach every day for
millions of people 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)2021 Hikma Pharmaceuticals PLC. All rights reserved.
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