(Alliance News) - Hikma Pharmaceuticals PLC on Thursday reiterated annual guidance amid "strong" performance across all divisions.
The London-headquartered company said it is benefiting from its "broad and differentiated" product portfolios, strong commercial capabilities, and tight cost control.
By division, Hikma said the Injectables business continues to perform well. In the US, the company had good demand while in Europe, the Middle East, & North Africa also performed well.
Hikma continues to expect global Injectables revenue to be in the range of USD870 million to USD900 million for 2019 and for the core operating margin to be in the range of 36% to 38%.
Turning to Generics, this division is delivering "good" revenue growth and a "strong" improvement in profitability, Hikma said, thanks to strong demand, continued operational improvements, and a focus on cost reduction.
For the full year, Hikma now expects Generics revenue to be closer to the top end of its guidance range of USD690 million to USD720 million and continue to expect the core operating margin to be in the range of 16% to 18%.
Finally, in the Branded unit, Hikma said "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. The company expects Branded revenue growth in constant currency to be in the mid-single digits for 2019.
"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," said Chief Executive Siggi Olafsson.
He added: "We are successfully launching new products while making strategic investments in research and development and partnerships to drive sustainable long-term growth."
The company will report results for 2019 on February 27 next year. Hikma shares were trading 0.6% lower on Thursday in London at 2,013.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Hikma Pharmaceuticals (HIK)