Hikma Pharmaceutical revenue up 16pc

Hikma pharmaceutical has reported a positive start to the year, with revenue rising 16 per cent during the six months to 30 June. 

 

Shareholder profit went up by 44 per cent to $176m, compared to $122m the year before, and net cash flow from operating activities increased by $64m to $200m.

 

The multinational company described the results as “excellent”, and said that the strong performance was in part because of the injectables side of the business.

 

It also attributed its success to new product introductions. During the period, it launched 49 products and received 140 product approvals. 

 

Hikma performed particularly well in the Middle East and North Africa, in markets such as Egypt and Saudi Arabia.

 

"I am very pleased with our first half results, which reflect strong underlying performances in our businesses and our success in capturing a number of specific market opportunities,” said chief executive Said Darwazah.

 

“In the MENA region, our focus on new, higher value products is delivering good results in key markets.  Whilst this is being offset by weakness in other markets this year, our businesses across the region remain well positioned to drive future growth.”