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Hikma Pharmaceuticals lifts guidance on generics business on strong YTD performance
StockMarketWire.com
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Hikma Pharmaceuticals lifted its full-year guidance on revenue for its generics segment following stronger-than-expected performance in the year to date.
Revenue for generics was lifted to a range of $720 million to $740 million, from previous guidance range of $710 million to $730 million, while core operating margin guidance was maintained in the range of 18% to 19% for the full year.
'The generics business continues to perform well, supported by a better than expected contribution from new launches and strong demand across our differentiated portfolio,' the company said.
The company touted progress with its pending approval for generic Advair Diskus, which is expected to be launched in early 2021.
Guidance for its injectables and branded business was maintained, with the latter benfitting from good demand across markets including Egypt, Algeria and Saudi Arabia offsetting some disruptions related to COVID-19, the company said,
At 8:05am: (LON:HIK) Hikma Pharmaceuticals PLC share price was +102.5p at 2756.5p
Story provided by StockMarketWire.com
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