Business
Pre-close trading statement
Pre-close trading statement.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n Hikma Pharmaceuticals Plc\n14 December 2007\n\n\n Pre-close trading statement\n\nLONDON, 14 December 2007 - Hikma Pharmaceuticals PLC ('Hikma') (LSE: HIK) (DIFX:\nHIK), the multinational pharmaceuticals group, announces that it has seen strong\ngrowth in the year to date and continues to expect to deliver full year revenue\ngrowth of close to 40%. Excluding the acquisitions of Ribosepharm, Thymoorgan\nand Alkan Pharma ('Alkan'), we expect to deliver organic revenue growth in the\nmid 20% range. We expect gross margin for the Group will be close to 50%.\n\nThe Branded business, which is a market leader in the Middle East and North\nAfrica (MENA), has been performing particularly well and is expected to deliver\nrevenue growth in the mid 40% range for the full year. This has been driven by\nstrong organic growth across all the MENA markets, as well as by the full year's\ncontribution from JPI, the Saudi-based business that became a wholly owned\nsubsidiary in the second half of 2006, and Alkan, our recent acquisition in\nEgypt.\n\nThe Injectables business has also maintained a strong performance in the second\nhalf of the year and we currently expect this business to deliver strong organic\nsales growth in the mid 20% range and close to 80% growth including\nacquisitions. We are very pleased to announce that our new cephalosporin plant\nin Portugal has now been accepted by the FDA for exports to the US market.\n\nWe expect the Generic business to deliver single digit sales growth in 2007,\ncompared to 2006, driven by higher volumes and the contribution from new product\nlaunches. As expected this growth has been achieved at lower prices, which\nreflect the more competitive market environment. Irrespective of the outcome of\nany future solicitation for the supply of the Lisinopril, we expect to maintain\n2007 Generic sales levels in 2008 driven by new and recent product launches, but\nexpect further pressure on margins.\n\nCommenting on the Group's performance, Said Darwazah, CEO said, 'Hikma is\nperforming well and we expect 2007 will be another year of strong growth,\nparticularly in the MENA region and in Injectables. We are pleased with the\nongoing development of the Group and are excited about the opportunities that we\nhave created this year through the acquisitions of APM, our two new oncology\nbusinesses and Alkan, and ...