Hikma Pharmaceuticals expects annual revenue growth

Hikma Pharmaceuticals said it is maintaining its guidance for 2013 for 20 per cent revenue growth on the back of a strong performance across all its divisions. The group's global Injectables business has delivered robust results, particularly in the US, where growth is being driven by demand across the growing product portfolio, pricing improvements and a good performance from recently launched, more differentiated products. In the Branded division, the company achieved revenue growth of around 10% in the year to September, in constant currency, boosted by its strategy of shifting the product mix towards higher value products. The firm expects annual adjusted operating margin of around 24%, up more than 50 basis points from last year. The Generics business continues to benefit from strong doxycycline sales and the company has raised its full year guidance for this business to revenue of around $260m, with a reported operating margin above 40%. "We are performing well, we have strengthened our businesses across the group and we are very well positioned to deliver a strong performance in 2014," according to Chief Executive Officer Said Darwazah. RD