Hikma Pharmaceuticals rises on strong revenues and profits
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Shares in Hikma Pharmaceuticals (LON:HIK) climbed by 8.38% to 1,785p (as of 12:30 BST) after group revenues rose by 11% during the first half of the year. The generic drug manufacturer’s operating profits also grew by 54% to $174 million.
CEO Siggi Olafsson commented that: “I am pleased with our first half performance, with each of our three business segments achieving revenue and, importantly, profit growth.
“Our Injectables business continues to demonstrate resilience. Our broad portfolio, extensive manufacturing capabilities and geographic footprint are enabling us to respond quickly to changing market dynamics and grow our market share. In our Generics business, we are successfully driving demand for our more differentiated in-market products and are making progress reducing our cost base. We achieved good results in the Branded business, taking into consideration the usual seasonality[…]
“The measures we have taken and investments we have made across the Group over the past year are delivering results, but we still have work to do. Our markets are competitive and we don’t expect the same demand for some of our injectable products to continue into 2019. This means we must remain focused on strengthening our customer relationships, improving profitability and advancing our pipeline to ensure future growth.“
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