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18 Oct 2010 07:00
Update on Hikma's US Generics Business
London, 18 October 2010 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ DUBAI: HIK)("Hikma"), the fast growing multinational pharmaceutical group, announces that the dispute between West-Ward Pharmaceutical Corp., Hikma's US agent and wholly-owned subsidiary, and Mutual Pharmaceutical Company, Inc. relating to the sale of oral colchicine tablets has been resolved to the parties' mutual satisfaction. West-Ward has discontinued its sales of oral colchicine until approval of its New Drug Application by the U.S. Food and Drug Administration.
Hikma reconfirms its previously stated guidance of at least 20% revenue growth for its US Generics business for the full year 2010 and continues to expect its core US Generics business to perform well in 2011.
ENDS
Enquiries
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Hikma Pharmaceuticals PLC |
+44 (0)20 7399 2760 |
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Susan Ringdal, Investor Relations Director |
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Financial Dynamics |
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Ben Atwell |
+44 (0)20 7269 7242 |
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Julia Phillips |
+44 (0)20 7269 7187 |
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Matthew Cole |
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About Hikma
Hikma Pharmaceuticals PLC is a fast growing global pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based primarily in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2009, Hikma achieved revenues of $637 million and profit attributable to shareholders of $78 million. For news and other information, please visit www.hikma.com.
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