Hikma Pharmaceuticals Plc
14 December 2007
Pre-close trading statement
LONDON, 14 December 2007 - Hikma Pharmaceuticals PLC ('Hikma') (LSE: HIK) (DIFX:
HIK), the multinational pharmaceuticals group, announces that it has seen strong
growth in the year to date and continues to expect to deliver full year revenue
growth of close to 40%. Excluding the acquisitions of Ribosepharm, Thymoorgan
and Alkan Pharma ('Alkan'), we expect to deliver organic revenue growth in the
mid 20% range. We expect gross margin for the Group will be close to 50%.
The Branded business, which is a market leader in the Middle East and North
Africa (MENA), has been performing particularly well and is expected to deliver
revenue growth in the mid 40% range for the full year. This has been driven by
strong organic growth across all the MENA markets, as well as by the full year's
contribution from JPI, the Saudi-based business that became a wholly owned
subsidiary in the second half of 2006, and Alkan, our recent acquisition in
Egypt.
The Injectables business has also maintained a strong performance in the second
half of the year and we currently expect this business to deliver strong organic
sales growth in the mid 20% range and close to 80% growth including
acquisitions. We are very pleased to announce that our new cephalosporin plant
in Portugal has now been accepted by the FDA for exports to the US market.
We expect the Generic business to deliver single digit sales growth in 2007,
compared to 2006, driven by higher volumes and the contribution from new product
launches. As expected this growth has been achieved at lower prices, which
reflect the more competitive market environment. Irrespective of the outcome of
any future solicitation for the supply of the Lisinopril, we expect to maintain
2007 Generic sales levels in 2008 driven by new and recent product launches, but
expect further pressure on margins.
Commenting on the Group's performance, Said Darwazah, CEO said, 'Hikma is
performing well and we expect 2007 will be another year of strong growth,
particularly in the MENA region and in Injectables. We are pleased with the
ongoing development of the Group and are excited about the opportunities that we
have created this year through the acquisitions of APM, our two new oncology
businesses and Alkan, and look forward to continued growth in 2008.'
Hikma will enter its close period on 12 January 2008 ahead of the announcement
of its results for the twelve months ending 31 December 2007, which will be made
on 12 March 2008.
- ENDS -
Enquiries:
Hikma Pharmaceuticals PLC
Susan Ringdal +44 20 7399 2760
Investor Relations Director
Brunswick Group
Jon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on
developing, manufacturing and marketing a broad range of both branded and
non-branded generic and in-licensed products. Hikma operates through three
businesses: 'Branded', 'Injectables' and 'Generics', based principally in the
Middle East and North Africa ('MENA'), where it is a market leader and sells
across 18 countries, the United States and Europe. In 2006, Hikma achieved
revenues of $317 million (2005 $262 million) and profit attributable to
shareholders was $55 million (2005 $44 million). At 31 December 2006, the Group
had over 2,400 employees. For news and other information, please visit
www.hikma.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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