Hikma Pharmaceutical revenue hits $1.2bn, buoyed by investments in new medicines
Hikma Pharmaceuticals’ revenue has hit $1.2bn in the past six months, inching past last year’s figure.
Revenue was up seven per cent in the six months to June from $1.1bn in the same period last year.
The pharmaceutical firm also pulled in $326m in operating profit, some 10 per cent more than the first half of 2020.
After opening lower this morning, shares plunged 6.5 per cent in its afternoon trading, dragging its total share price to 2,469.00.
The upbeat performance was significantly buoyed by the firm’s investments, which has, in turn, lifted the CEO’s outlook for its upcoming full-year results.
“We are continuing to benefit from investments we have made to build our pipeline of new medicines and our progress in the first half underpins our improved outlook for the full year,” CEO Siggi Olafsson said.
Basic earnings per share lifted by 23 per cent to 107.4 cents a share in the period, climbing up from 87.6 cents.
Both the pharma firm’s injectable medicines and generic medicines marked positive growth, it said in a statement.
Hikma added that it expects revenue growth for its injectables in the mid-single digits, with a core operating margin in the range of 37 per cent to 38 per cent.
Meanwhile, its generic medicines are looking to pull in revenue in the range of $810m to $830m. With a core operating margin to be in the range of 22 per cent to 24 per cent.