The price of shares in drug producer Hikma Pharmaceuticals (LON:HIK) increased by 10.89% to 2,392p (as of 11:30 BST) after the firm reported a 26% rise in operating profits for the half year ended 30th June. Statutory revenues were up by 8% and cashflow from operations improved by 56%. Full-year guidance for the generic and injectable ranges has been upgraded.
CEO Siggi Olafsson commented: “We have delivered strong first half results, which are ahead of our initial expectations and reflect good progress in each of our three businesses. These results are a testament to the steadfast commitment of our people, who are working hard to ensure high quality and affordable medicines are available to patients throughout the COVID-19 pandemic. Our performance demonstrates the breadth and resilience of our portfolio, as well as the vital role of the generic medicines we supply. We have a positive outlook for each of our three businesses and look forward to the second half with confidence“.