Hikma delivers ‘solid first half performance in transitional year’

AMMAN — Hikma Pharmaceuticals Plc. posted a 24 per cent increase in its earnings during the first half of the year, bringing its total revenue to $882 million, according to a company statement. 

Hikma, a multinational pharmaceutical group, has recently reported its interim results for the six months ending June 30. 

In addition to completing the West-Ward Columbus acquisition and making considerable progress in integrating its business, the group has also made strides in transferring Bedford Laboratories’ products to its injectables manufacturing facilities and promoting strategic products in its MENA markets, according to the statement.

Hikma launched 44 products and received 182 approvals in the first six months of 2016, expanding its global product portfolio. 

The group experienced double-digit growth in constant currency in Algeria and Egypt. Global injectables revenue is up 4 per cent compared with the figure recorded in H1 2015, or 5 per cent in constant currency. Also, generics revenue increased, reflecting the consolidation of four months of West-Ward Columbus. 

Hikma remains focused on higher value products as well as on improving efficiency in its key markets, the group said.

Chairman and Chief Executive Officer of Hikma Said Darwazah said: “Hikma has delivered a solid first half performance in a transitional year.  Our global injectables business is performing well, with revenue growth and strong profitability driven by a favourable product mix.  We continue to successfully transfer the Bedford products to our injectables facilities”.  

In the MENA region, Hikma is expanding its market reach and is in the advanced stages of entering the Palestinian market through a partnership with Pharmacare. The partnership involves the manufacturing and distribution of an initial portfolio of products that might expand over time.