Hikma Pharmaceuticals Plc (LON:HIK) said it is “successfully” launching new products as it reiterated full-year guidance for 2019.
The FTSE 100-listed pharma group said, in a trading statement, that its generics business is delivering a “strong” improvement in profitability, bringing full-year expected revenue closer to the top-end of its guidance range of up to US$720mln and its core operating margin of up to 18%.
READ: Hikma looking healthy as it upgrades full-year forecasts following strong first half
The firm said its injectables business continues to perform well globally, with “good” US demand offsetting increased competition and the expected gradual decline in revenue from shortages of pain management products, with its full-year revenue forecast set at up to US$900mln with a core operating margin of between 36% and 38%.
Branded business revenue growth is expected to be in the “mid-single” digits, the company added, driven by “strong growth” in most markets and offset by lower sales in Algeria, where conditions are more challenging.
“We continue to execute against our strategic priorities and all three of our businesses continue to deliver good organic growth and profitability in line with our expectations,” said Hikma chief executive Siggi Olafsson in today's release.
“We are benefitting from our broad and differentiated product portfolios, strong commercial capabilities and tight cost control,” he added.
In early morning trading, Hikma shares drifted 0.8% lower to 2,009p.