Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today provides an update on current trading.
Riad Mishlawi, Chief Executive Officer of Hikma, said: “The good momentum during the first half has continued, enabling us to upgrade full year guidance in two of our three businesses. Our Branded business is performing exceptionally well on an underlying basis and our Generics business has seen key products continuing to drive better-than-expected performance.
We are continuing to invest extensively across our Injectables business to expand our portfolio and manufacturing capacity. We are making good progress on our new facilities in Morocco and Algeria and are gradually advancing our 503B sterile compounding business in the US. We continue to expect Branded revenue to grow in the mid-to-high single digits in constant currency. On a reported basis, assuming no further adverse currency movements, we continue to expect Branded revenue to be in line with 2022, offsetting headwinds resulting from the devaluation of the Egyptian Pound and the closure of our Sudan operations. Due to our strong performance and focus on efficiencies, we now expect core operating margin to expand to around 23% for the full year.
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