Hikma Pharmaceuticals Plc Trading Statement (3320Z)
17 Maggio 2019 - 8:00AM
UK Regulatory
TIDMHIK
RNS Number : 3320Z
Hikma Pharmaceuticals Plc
17 May 2019
London, 17 May 2019 - Hikma Pharmaceuticals PLC (Hikma, Group)
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:
549300BNS685UXH4JI75) (rated Ba1 Moody's / BB+ S&P, both
stable), the multinational pharmaceutical group, will hold its
Annual General Meeting today and provide an update on recent
trading.
Siggi Olafsson, Hikma's CEO, said: "We are pleased to be holding
our Annual General Meeting today, which will include a review of
the Group's performance in 2018. We delivered strong growth in
revenue and profitability last year, while making significant
strategic progress. We have been building on this momentum and 2019
is off to a good start. Across our three businesses, we are driving
good demand for our broad product portfolio and recent product
launches. We continue to strengthen our capabilities, pipeline and
business operations, whilst maintaining our focus on cost
reduction. I am pleased to reiterate our full year guidance for
2019 and we remain confident in the outlook for the Group and our
ability to deliver long-term, sustainable growth."
Injectables
Our global Injectables business is performing well. In the US,
strong demand for our large and diversified portfolio is more than
offsetting increased competition. Further demand is being driven by
recent product launches, including three products launched in the
year to date. Our Injectables businesses in MENA and Europe are on
track to deliver good growth this year, particularly in our top
MENA markets.
We continue to expect global Injectables revenue to be in the
range of $850 million to $900 million in 2019. We expect revenue
growth from new product launches and good demand for our in-market
portfolio to more than offset continued price erosion and an easing
in demand for products on shortage. We expect core operating margin
to be in the range of 35% to 38%.
Generics
The Generics business has also had a strong start to the year,
in line with our expectations. We have delivered good revenue
growth, benefiting from our more differentiated product portfolio.
Our strengthened commercial and operational capabilities are
enabling us to enhance our customer relationships and drive higher
volumes.
We reiterate our guidance for Generics revenue in the range of
$650 million to $700 million in 2019. This reflects our expectation
for increased competition on our marketed portfolio, which we
expect to partially offset with market share gains and new product
launches. We expect our focus on cost reduction and operational
efficiencies to enable us to achieve a core operating margin in the
mid-teens.
Branded
Our Branded business is delivering good growth, with strong
demand in some of our key markets. As in 2018, we expect a stronger
second half, reflecting the usual seasonality of this business. We
continue to expect Branded revenue growth to be in the mid-single
digits in constant currency in 2019.
We will announce our interim results for the six months to 30
June 2019 on 9 August 2019.
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 7776
Affairs 477050
Lucinda Baker +44 (0)20 7399 2765/ +44 7818
Deputy Director of Investor Relations 060211
Virginia Spring +44 (0)20 3892 4389/ +44 7973
Senior Investor Relations Manager 679502
FTI Consulting
Ben Atwell/Andrew Ward +44 (0)20 3727 1000
About Hikma
Hikma helps put better health within reach every day for
millions of people in more than 50 countries 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're 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 8,400 colleagues are helping to
shape a healthier world that enriches all our communities. We are a
leading licensing partner in the MENA region, 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)2019 Hikma Pharmaceuticals PLC. All rights reserved.
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END
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