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Hikma Pharmaceuticals lifts guidance on generics business amid 'good' start to year
StockMarketWire.com
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Pharmaceuticals group Hikma Pharmaceuticals forecast its generics business to generate revenue toward the top end of guidance following a 'good' start to the new year that was in line with its expectations.
Full year generics revenue was now expected towards the top end of its guidance range of $770 million to $810 million and core operating margin to be around 20%.
'We have also seen continued demand for certain COVID-19 related products, and a good performance from recent launches, which is more than offsetting increased competition on certain products, in line with our expectations,' the company said.
It maintained full-year guidance for its injectables and branded businesses.
Injectables core revenue is expected to grow in the mid-single digits and core operating margin to be in the range of 37% to 38%.
Branded revenue growth in constant currency is forecast in the mid-single digits.
Interim results for the six months to 30 June 2021 would be released on 6 August 2021.
Story provided by StockMarketWire.com
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