LONDON (Alliance News) - Hikma Pharmaceuticals PLC Friday maintained its full year revenue growth guidance of 20%, as it saw good performances across its businesses in the period from July 1 to date.
Hikma expects low double-digit revenue growth for the full year in its Injectables business as it saw a good performance, boosted by particularly strong growth in the US.
In Hikma's Branded business, the company said it expects a full-year adjusted operating margin of around 24% as it continued to shift its product mix to higher-value products. As a result of this drive for improved profit margins, Hikma reduced its expectations for the unit's full-year revenue growth to around 5%. The division saw revenue growth of around 10% in the year to September, Hikma said.
Sales of antibiotic doxycycline boosted performance in the company's Generic business. As a result, Hikma raised its full-year revenue guidance for the business to around USD260 million.
"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," said Chief Executive Officer Said Darwazah in a statement.
In early trading Friday, Hikma shares flat at 1,210.00 pence apiece.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Hikma Pharmaceuticals (HIK)