Hikma Pharmaceuticals on track to meet expectations amid 'good' start to year
Source - SMW
Hikma Pharmaceuticals said it was on track to meet full-year expectations following a 'good start' to the year, driven by recent product launches and good demand across all three businesses for its products.
Its injectables business was performing well, as strong product demand in the US, more than offsetting increased competition.
In MENA and Europe, Its injectables businesses were on track to deliver 'good growth this year, particularly in our top MENA markets,' the company said.
'We continue to expect global Injectables revenue to be in the range of $850 million to $900 million in 2019,' it added.'We expect core operating margin to be in the range of 35% to 38%.'
In its generics business, the company reiterated its guidance for revenue in the range of $650m to $700m in 2019.
Branded revenue growth, meanwhile, was expected to be in the mid-single digits in constant currency in 2019.
'We have been building on this momentum and 2019 is off to a good start. Across our three businesses, we are driving good demand for our broad product portfolio and recent product launches,' said Siggi Olafsson, Hikma's CEO.
'We continue to strengthen our capabilities, pipeline and business operations, whilst maintaining our focus on cost reduction. I am pleased to reiterate our full year guidance for 2019 and we remain confident in the outlook for the Group and our ability to deliver long-term, sustainable growth.'