TIDMHIK
RNS Number : 1998X
Hikma Pharmaceuticals Plc
30 April 2021
London, 30 April 2021 - Hikma Pharmaceuticals PLC (Hikma, Group)
, the multinational pharmaceutical group, today provides an update
on current trading.
Siggi Olafsson, Hikma's CEO, said: "2021 is off to a good start
with performance in line with our expectations. Our broad portfolio
of essential medicines, strong commercial capabilities and over 30
new product launches across our markets have supported this
progress. We expect to build on this momentum and are pleased to
have recently resumed the launch of our high-quality, substitutable
generic version of Advair Diskus (R) .
As the COVID-19 pandemic continues to impact people and
communities around the world, we remain focused on delivering the
high-quality products needed by patients across our markets. Our
full-year outlook for the Group is unchanged and we remain
confident in our ability to deliver consistent long-term,
sustainable growth."
Injectables
Our global Injectables business is performing well. In the US,
new product launches and demand for our broader portfolio are
partially offsetting reduced demand for COVID-19 related products
and the gradual return of elective surgeries. In Europe, we are
seeing good demand from recent launches and contract manufacturing,
continuing the strong performance that we saw through 2020 and, in
MENA, we are seeing good demand across our markets.
We have also made good progress in expanding our global
injectables pipeline, demonstrated by the recently announced
expansion of our licencing agreement with Melinta in the MENA
region, adding two novel anti-infective products, and the licencing
of Combogesic(R) IV from AFT Pharmaceuticals, expanding our
pipeline of non-opioid pain management treatments.
We continue to expect global Injectables core revenue to grow in
the mid-single digits and core operating margin to be in the range
of 37% to 38%.
Generics
Our Generics business is having a good start to the year,
reflecting the benefits of our broad portfolio. We have also seen
continued demand for certain COVID-19 related products, and a good
performance from recent launches, which is more than offsetting
increased competition on certain products, in line with our
expectations. We continue to work to improve availability of the
active pharmaceutical ingredient for our icosapent ethyl capsules
and we remain on track to gradually increase supply of finished
product over the course of 2021. We are also pleased to have
resumed the launch of our generic Advair Diskus(R) following the
FDA's approval of an amendment to our Abbreviated New Drug
Application on 20 (th) April 2021, a great example of our ability
to bring more complex products to market.
We have also announced the US FDA approval of KLOXXADO(TM)
(naloxone nasal spray 8mg), an important new branded treatment
option in addressing the opioid epidemic.
We now expect our full year Generics revenue to be towards the
top end of our guidance range of $770 million to $810 million and
core operating margin to be around 20%.
Branded
Our Branded business is also performing well, including across
our Tier 1 markets - Saudi Arabia, Egypt and Algeria. In Saudi
Arabia we are building our market presence in chronic care,
leveraging recent launches, and in Algeria, we continue to
strengthen our portfolio and have launched our first locally
manufactured oral oncology product.
We continue to expect Branded revenue growth in constant
currency to be in the mid-single digits for the full year in
2021.
Final dividend
At our Annual General Meeting on 23rd April 2021, our 2020 final
dividend of 34 cents per share was approved and has been paid to
shareholders. The final dividend brings the total dividend for the
full year 2020 to 50 cents per share, an increase of 14% on
2019.
We will announce our interim results for the six months to 30
June 2021 on 6 August 2021.
-- ENDS --
Enquiries:
Hikma (Investors)
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 7776
Affairs 477050
Guy Featherstone +44 (0)20 3892 4389/ +44 7795
Senior Investor Relations Manager 896738
Layan Kalisse +44 (0)20 7399 2788/ +44 7970
Investor Relations Analyst 709912
Teneo (Press)
Charles Armitstead + 44 (0) 7703 330269
Claire Scicluna + 44 (0) 7385 395028
About Hikma
Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC:
HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB-/stable S&P and
BBB-/stable Fitch)
Hikma helps put better health within reach every day for
millions of people around the world. For more than 40 years, we've
been creating high-quality medicines and making them accessible to
the people who need them. Headquartered in the UK, we are a global
company with a local presence across the United States (US), the
Middle East and North Africa (MENA) and Europe, and we use our
unique insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed
to our customers, and the people they care for, and by thinking
creatively and acting practically, we provide them with a broad
range of branded and non-branded generic medicines. Together, our
8,600 colleagues are helping to shape a healthier world that
enriches all our communities. We are a leading licensing partner,
and through our venture capital arm, are helping bring innovative
health technologies to people around the world. For more
information, please visit: www.hikma.com
(c)2021 Hikma Pharmaceuticals PLC. All rights reserved.
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