(Corrects to say U.S. sales rose 5%, not 61%, and removes
reference to double-digit growth across segments in paragraph
four)
* 2019 core sales and core oper. profit top expectations
* Sees 2020 injectables sales growth in low to mid-single
digits
* Currently does not see material impact from coronavirus
outbreak
Feb 27 (Reuters) - Hikma Pharmaceuticals on Thursday
forecast sales growth this year after it surpassed analysts'
expectations for annual operating profit and revenue in 2019,
boosted by higher demand for its injectable treatments and newly
launched drugs.
The company expects revenue from its injectables division to
grow in the low to mid-single digits and its generics unit to be
between $700 million and $750 million. Sales for its branded
segment is expected to grow by mid-single digits at constant
currency.
Hikma, which makes and markets a broad range of branded and
non-branded generic medicines, has been helped by newer launches
as they help cushion drug pricing pressure in the United States
- its biggest market.
Overall core sales grew 6% to $2.20 billion, while core
operating profit rose 10% for the year ended Dec. 31, Hikma
said. The company reported a 5% rise in U.S. sales and strong
growth across its segments. U.S. sales made up 61% of total core
revenue.
Analysts on average were expecting core revenue of $2.18
billion, according to a company compiled consensus https://www.hikma.com/investors/analyst-coverage/analyst-estimates.
Hikma also said it currently does not anticipate any
material impact to its business from the coronavirus outbreak as
it does not have extensive operations or manufacturing in China.
It said it was monitoring the "complex situation".
The firm's only unit https://www.hikma.com/media/2187/hikma_ar2018_full-ar.pdf
in China, Hubei Haosun Pharmaceutical, is in the Hubei
province, the Chinese district at the centre of the coronavirus
outbreak.
However, governments are ramping up measures as the number
of infections outside China surpassed those inside the country
for the first time, stoking fears about a global pandemic.
"During a challenging year for the industry, we delivered
strong financial performance and made important progress on our
strategic objectives, including strengthening our operations,"
Chief Executive Siggi Olafsson said.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Vinay
Dwivedi, Bernard Orr)