Hikma Pharmaceuticals Regulatory News (HIK)

14 Jan 2009 07:00



Pre-close Trading Statement

LONDON, 14 January 2009 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (DIFX: HIK) is a fast growing multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of generic and in-licensed patented pharmaceutical products.

The Board expects operating performance for 2008 to have been in line with our expectations as described in our last communication with the market in November.  For the year ending 31 December 2008 revenue growth is expected to be approximately 30%.  Since Hikma was listed on the London Stock Exchange in 2005, revenues have grown at a compound annual rate of more than 29%.

We reported last year that difficult trading conditions in the US for our Generics business led to an operating loss in that segment for the first half of the year.  We took a number of management initiatives to improve performance and, as expected, will report a loss for the year as a whole for Generics but have returned that business segment to profitability for the last quarter of 2008.  With the benefits of these initiatives and some recent improvement in trading conditions, we expect the Generics business to remain in profit in 2009.

Our operating cash flow performance has improved during the second half of the year and as a result our net debt levels have decreased since June.

Hikma will enter its close period on Friday 16 January ahead of the announcement of its results for the twelve months ending 31 December 2008, to be made on 17 March 2009.

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About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma operates through three businesses: "Branded", "Injectables" and "Generics", based principally in the Middle East and North Africa ("MENA"), where it is a market leader and sells across 17 countries, the United States and Europe. In 2007, Hikma achieved revenues of $449 million and profit attributable to shareholders of $63 million. At 31 December 2007, the Group had over 3,000 employees. For news and other information, please visit www.hikma.com.