Hikma revenues hit $1.4bn, up 2pc
DUBAI, March 16, 2016
Hikma Pharmaceuticals, a leading multinational pharmaceutical group, has posted a revenue of $1.44 billion last year, up two per cent, following a strong year in 2014.
The injectables revenue climbed three per cent in constant currency, driven primarily by growth in Europe and the Middle East and North Africa (Mena) region.
Meanwhile, core operating profit rose four per cent in constant currency, with strong profitability in injectables and branded offsetting expected declines in generics.
In 2015, Hikma implemented an organic growth strategy across all three of its core business segments: injectables, branded and generics.
Hikma launched 92 new products and received 220 product approvals across all countries and markets, expanding and enhancing Hikma’s global product portfolio.
Its acquisition of Roxane, a well-established US specialty Generics company, has brought transformational scale and growth opportunities, adding a broad portfolio and a large, differentiated pipeline of niche products.
In addition, Hikma’s swift integration of its acquired US company, Bedford Laboratories, has delivered new high-value products and is expected to drive injectables’ growth in 2017.
Meanwhile, its acquisition of EIMC United Pharmaceuticals (EUP) boosted its capabilities in oncology and injectables in Egypt.
The outlook for the year is that group revenue is expected to be in the range of $2 billion to $2.1 billion in constant currency, reflecting strong growth across all three business segments and the consolidation of ten months of revenue from the Roxane acquisition.
Completing its duty of care, strong operational growth in various locations was coupled with responsible initiatives in surrounding communities.
Said Darwazah, chief executive officer of Hikma, said: "Following an exceptional 2014, our branded and injectables businesses performed strongly in 2015 and we made excellent strategic progress in US Generics, transforming the future prospects of the group.
"Our businesses in Mena are performing very well. We achieved excellent growth in our key markets in 2015 whilst continuing to invest in our pipeline to support future growth.
"This goes hand in hand with our corporate responsibility strategy, which is an integral part of Hikma. As we expand into global markets, we are committed to continue playing a positive role in the communities we touch, not only through our high-quality pharmaceuticals, but also by promoting philanthropy, medical awareness and community engagement.” - TradeArabia News Service
