Hikma H1 revenue up 20pc to $638m
Amman, August 21, 2013
Hikma Pharmaceuticals, a top multinational pharmaceutical group, has reported revenue of $638.3 million in the first half of 2013, reflecting a 19.9 per cent increase over the same period last year.
The Group is expected to deliver full year revenue growth of around 20 per cent.
Hikma continued new product introductions across all countries and markets; and launched 63 products and received 65 product approvals, a statement said.
Stronger sales are expected in the Mena region in the second half and the branded business continues to remain on track for around 11 per cent full year revenue growth in constant currency, alongside driving operational efficiencies in local manufacturing facilities.
The Egyptian Company for Pharmaceutical and Chemical Industries (EPCI) has begun upgrading its manufacturing facility and its sales and marketing team has been fully integrated. EPCI’s wide product portfolio and specialised manufacturing capabilities are expected to drive good growth in the Egyptian business over the medium term.
In Algeria, expansion of the general formulation facility began in the first half of the year, which will enable Hikma to meet growing demand and strengthen its competitive position in the Algerian market.
A favourable performance of the global injectables business will be sustained in the second half of 2013, driven by strong performances in the US and Europe. As for the Generics business, the antibiotic Doxycycline sales have been significant, leading to an increase in the Generics revenue guidance for the full year.
Mazen Darwazah, Hikma’s executive vice-chairman and chief executive officer of Mena, said: “In the Mena region, we continue to focus on offering products that reflect the needs of the patient population in all our markets. Hikma has been continuously contributing to its communities and investing in its people – Our unwavering commitment to our local markets has been reinforced through our dedication to Corporate Social Responsibility and promotion of integral practices that support our people and societies.”
“Our global Injectables business continues to deliver very strong growth. In particular, we are benefitting from strong demand for our products in the US and new product launches.
I expect the outlook to be positive for the second half of this year with great growth opportunities for the entire Group,” he added. – TradeArabia News Service