(Alliance News) - Hikma Pharmaceuticals PLC on Thursday reiterated its guidance to achieve another year of growth.
The London-based manufacturer of non-branded generic and in-licensed pharmaceutical products said it continued to perform strongly. Hikma's Injectables business remains on track to deliver growth for the full year in the US, benefiting from the breadth of its portfolio, which has now over 120 products and includes 14 products launched in the year to date.
In Europe, Hikma said its Injectables business is delivering strong growth from its own products, including some Covid-19 related medicines.
In the Middle East & North Africa, Injectables is seeing good demand across most of its markets and is increasing its investment in the expansion of local manufacturing capacity.
Hikma said it continues to expect global Injectables revenue to grow in the mid-single digits and core operating margin to be in the range of 37% to 38%.
Turning to the Generics unit, the company reported good performance from its in-market products as well as a strong contribution from recent launches, which are more than offsetting expected price erosion on its base business.
Hikma said it continues to expect full-year Generics revenue to be in the range of USD810 million to USD830 million and core operating margin to be closer to the top end of guidance range of 22% to 24%, reflecting a more favourable product mix. For 2020, Hima's Generics unit posted revenue of USD744 million.
Finally, the company's Branded business is trading in-line with expectations, with good demand in most of its markets. Hikma said it continues to expect Branded revenue growth in constant currency to be in the mid-single digits for 2021.
"We have made excellent progress year to date, including launching new specialty products, establishing new partnerships and using our robust balance sheet to expand our portfolio and pipeline," said Chief Executive Siggi Olafsson.
"While the global pandemic continues to bring some volatility, we are leveraging our resilient commercial and operational capabilities to drive growth and to reliably deliver medicines to our customers and patients," added Olafsson.
Hikma shares were trading 0.2% lower in London on Thursday morning at 2,458.00 pence each, having initially started higher. The wider FTSE 100 index was up 0.4%.
The company said it will post its 2021 results on February 24 next year.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Hikma Pharmaceuticals (HIK)