Hikma Pharmaceuticals Plc Trading Statement (5562S)
07 November 2019 - 6:00PM
UK Regulatory
TIDMHIK
RNS Number : 5562S
Hikma Pharmaceuticals Plc
07 November 2019
London, 7 November 2019 - Hikma Pharmaceuticals PLC (Hikma,
Group) (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:
549300BNS685UXH4JI75) (rated Ba1/stable Moody's and BB+/positive
S&P), the multinational pharmaceutical group, today provides an
update on current trading.
Siggi Olafsson, Hikma's CEO, said: "I am pleased to reiterate
our full year guidance for the Group in 2019. We continue to
execute against our strategic priorities and all three of our
businesses continue to deliver good organic growth and
profitability in line with our expectations. We are benefitting
from our broad and differentiated product portfolios, strong
commercial capabilities and tight cost control. We are successfully
launching new products while making strategic investments in
R&D and partnerships to drive sustainable long-term
growth."
Injectables
Our global Injectables business continues to perform well. In
the US, good demand for our large and resilient portfolio,
including recent product launches, is more than offsetting
increased competition on certain products and the gradual decline
in revenue from shortages of pain management products, as expected.
Our businesses in Europe and MENA are also performing well. We
continue to expect global Injectables revenue to be in the range of
$870 million to $900 million for the full year in 2019 and for core
operating margin to be in the range of 36% to 38%.
Generics
Our Generics business is delivering good revenue growth and a
strong improvement in profitability. This reflects strong demand
for our differentiated portfolio, continued operational
improvements and a focus on cost reduction. For the full year, we
now expect Generics revenue to be closer to the top end of our
guidance range of $690 million to $720 million and continue to
expect core operating margin to be in the range of 16% to 18%.
Branded
Our Branded business is performing well. Strong growth in most
markets, including Egypt and Saudi Arabia, is more than offsetting
lower sales in Algeria, where market conditions continue to be
challenging. We continue to expect Branded revenue growth in
constant currency to be in the mid-single digits for the full year
in 2019.
We will announce our results for the year ended 31 December 2019
on 27 February 2020.
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 7776
Affairs 477050
Lucinda Baker +44 (0)20 7399 2765/ +44 7818
Director, Investor Relations 060211
FTI Consulting
Ben Atwell +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
more than 40 years, we've been creating high-quality medicines and
making them accessible to the people who need them. 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
8,400 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)2019 Hikma Pharmaceuticals PLC. All rights reserved.
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END
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