Hikma Pharmaceuticals Plc Hikma updates Generics guidance for 2022 (3780K)
May 05 2022 - 2:01AM
UK Regulatory
TIDMHIK
RNS Number : 3780K
Hikma Pharmaceuticals Plc
05 May 2022
This announcement contains inside information.
London, 5 May 2022 - Hikma Pharmaceuticals PLC (Hikma ) notes
Jazz Pharmaceuticals' (Jazz) update to its expectations for the
launch timing of an authorized generic of Xyrem(R) (sodium oxybate)
as provided in its first quarter 2022 earnings conference call on 4
May 2022. Jazz now expects authorized generic entry to occur "in
late 2022, or possibly even January 2023".
As background, in 2017 Hikma entered into a settlement agreement
with Jazz to sell an authorized generic of Xyrem(R) . Under the
terms of this agreement, Hikma has a date certain launch of 1
January 2023, or earlier depending on certain market conditions,
and 180 days exclusivity.
To align with Jazz's updated expectations, Hikma now
conservatively assumes it will launch its authorized generic on 1
January 2023 and that the revenue and profit contribution from the
exclusivity period will shift to the first half of 2023. Reflecting
this, Hikma is today updating guidance for its Generics
business.
For 2022, Hikma now expects Generics revenue to be in the range
of $710 million to $750 million and core operating margin to be
around 20%, with the lower end of the range reflecting the
possibility of further price erosion in the US generic market,
should this materialize. This compares with Hikma's previous
guidance of Generics revenue growth in the range of 8% to 10% over
full year 2021 revenue of $820 million and core operating margin in
the range of 24% to 25%.
All other guidance remains unchanged.
-- ENDS -
The person responsible for the release of this announcement on
behalf of Hikma is Peter Speirs (Company Secretary).
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 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
8,700 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)2022 Hikma Pharmaceuticals PLC. All rights reserved.
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