Hikma's H1 revenue hits $709m
DUBAI, August 19, 2015
Hikma Pharmaceuticals, the leading multinational pharmaceutical group, has reported a revenue of $709 million for the first half of the year, in line with expectations and strategic progress.
The firm has launched 40 new products and received 118 product approvals across all countries and markets during the period, said a statement.
The branded revenue rose 16 per cent in constant currency or nine per cent on a reported basis, resulting from a strong performance in the GCC and Algeria, Hikma’s two largest Middle East and North Africa (Mena) region markets.
Continuing with its fast-growing product portfolio in Mena, Hikma has signed a partnership with Vitabiotics for the promotion and distribution of Vitabiotics’ leading healthcare products in Mena for men and women health, including pregnancy, joint and bone care.
Vitabiotics is the largest nutraceutical and vitamin company in the UK. The agreement leverages Hikma’s substantial local presence, its leading commercial and distribution capabilities and extensive experience of building brands in the Mena.
Under the terms of the agreement, Hikma has the exclusive rights to register, market, distribute and sell five of Vitabiotics’ leading specialist products in 15 of its Mena markets.
In addition, Hikma will have the exclusive rights to market, distribute and sell the full Vitabiotics product range, which includes the brand leaders Osteocare, Menopace and Pregnacare in five of these countries.
Meanwhile, following the strong performance last year, global injectables revenue increased three per cent on a constant currency basis, due to sustaining strong sales across the broad portfolio and have continued to be successful in capturing specific market opportunities.
The successful integration of Bedford is delivering new approvals for US Injectables as Hikma continues to enhance its global injectables product portfolio.
Said Darwazah, chief executive officer of Hikma, said: “We have had an excellent start to the year. Our financial results are in line with expectations and are making strong strategic progress across the group.
"Our businesses in Mena especially are performing very well and we are strongly positioned for continued growth. Our partnership with Vitabiotics, announced today, will leverage our marketing and sales capabilities in MENA and broaden our product portfolio, and is a great example of how we are implementing our growth strategy in the region.
"We have taken important strategic steps this year and we are very excited about the opportunities these bring to the Group. Across our geographies, we have strong market positions, we are executing well and we are very confident in the outlook for 2015 and beyond.” - TradeArabia News Service
