Hikma Pharmaceuticals, a multinational pharmaceutical company, has reported a revenue of $882 million for the first half of this year, a 24 per cent increase over the same period last year.

The group’s revenue includes the consolidation of four months of Roxane Laboratories, now known as West-Ward Columbus, said a statement from the company.

In addition to completing the West-Ward Columbus acquisition and making considerable progress in integrating its business, the group has also made strides in transferring Bedford Laboratories’ products to its injectables manufacturing facilities and promoting strategic products in its Middle East and North Africa (Mena) markets, it said.

Across all businesses and markets, Hikma launched 44 products and received 182 approvals in the first six months of 2016, expanding and enhancing its global product portfolio, it added.

Hikma expects the full-year performance of the branded business in 2016 to be in line with historical trends, on a constant currency basis. Meanwhile, the group experienced double-digit growth in constant currency in Algeria and Egypt.

Moreover, global Injectables revenue is up 4 per cent from H1 2015, or 5 per cent in constant currency, while generics revenue also increased compared with revenues in H1 2015, reflecting the consolidation of four months of West-Ward Columbus.

As Hikma continues to grow, it remains focused on higher value products as well as on improving efficiency in its key markets. In the Mena market, Hikma is expanding its market reach and is in the advanced stages of entering the Palestinian market through a partnership with Pharmacare.

The partnership involves the manufacturing and distribution of an initial portfolio of products that might expand over time. Hikma continues to invest in Egypt; in June 2016, Hikma Pharmaceuticals Egypt launched its new business unit, ‘Hikma Specialized Egypt’, which provides affordable high-quality oncology products to the Egyptian market.

Since the beginning of 2016, under its Corporate Responsibility strategy, Hikma has donated different medical products with a total sales value of around USD one million in support of local communities in the Mena region, charity organisations, the Za’atari Camp in Jordan, and the Jordan Hashemite Charity Organization for Relief and Development (JHCO).

Said Darwazah, chairman and chief executive officer of Hikma, said: “Hikma has delivered a solid first half performance in a transitional year.”

“Our global injectables business is performing well, with revenue growth and strong profitability driven by a favourable product mix. We continue to successfully transfer the Bedford products to our injectables facilities,” he said.

“In Mena, our focus on higher value products and tight cost control is delivering a continued improvement in profitability, despite the significant currency headwinds in the region,” he added.

“Overall, the group is well positioned across our markets and we are confident that we have the regulatory, R&D and commercial capabilities to realise the full potential of our pipeline opportunities over the coming years,” he concluded. – TradeArabia News Service