Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF) saw its shares jump 8% after it put out a midday update on its outlook, seeing strong medium-term growth.
Annual revenue growth of 6% to 8% is expected, with 7% to 9% CAGR in core operating profit from 2024 to 2027.
The company aims to achieve $5 billion in group revenue by 2030 and is rebranding its generic drug manufacturing business to Hikma Rx, which it said emphasised its focus on complex prescription medicines.
It made the announcement ahead of a tour of its US manufacturing and R&D facility in Columbus, Ohio for analysts and investors.