Hikma Pharmaceuticals, a leading London-listed pharmaceutical group, has announced an impressive 36% increase in its core net profit for the first half of the year. This growth can be attributed to positive performance across all three of its businesses, with generics leading the way. As a result, Hikma Pharmaceuticals has revised its guidance for the generics sector upward.
For the period ending June 30, Hikma Pharmaceuticals reported a net profit of $131 million, compared to $173 million for the same period last year. Core profit, which excludes exceptional and one-off items, stood at $284 million, up from $209 million.
In terms of revenue, Hikma Pharmaceuticals generated $1.43 billion during the first half of the year, a significant increase from $1.21 billion in the previous year. This growth was driven by a 39% rise in generics revenue, a 9% increase in injectables revenue, and an 11% jump in branded revenue.
With these positive results in mind, the company now expects its full-year generics revenue to grow by approximately 30%, surpassing the earlier guidance of 20%. The core operating margin is also projected to be between 18% and 20%, compared to the previous estimate of 16% to 18%.
Hikma Pharmaceuticals maintains its forecast for injectables revenue growth, predicting a range of 7% to 9%, with a core operating margin of 36% to 37%. Furthermore, branded revenue is expected to experience mid- to high-single digit growth in constant currency.
These impressive financial results highlight Hikma Pharmaceuticals’ continued success and position the company for further growth in the pharmaceutical industry.