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Hikma reports strong performance, strategic progress during 2015

By JT - Mar 17,2016 - Last updated at Mar 17,2016

AMMAN —  Preliminary results announced in a Hikma Pharmaceuticals press statement  this week showed group revenue for the year ended December 31, 2015, increased by 2 per cent in constant currency to  $1.44 billion in 2015.

"Injectables revenue climbed by 3 per cent in constant currency, driven primarily by growth in Europe and the Middle East and North Africa [MENA] region," the statment said. 

"Meanwhile, core operating profit rose  4 per cent in constant currency, with strong profitability in injectables and branded offsetting expected declines in Generics," it added, noting that the results followed an exceptionally strong year in 2014.

In 2015, Hikma successfully implemented an organic growth strategy across all three of its core business segments: injectables, branded and generics. Hikma launched 92 new products and received 220 product approvals across all countries and markets, expanding and enhancing Hikma’s global product portfolio. 

"Its acquisition of Roxane, a well-established US specialty generics company, has brought transformational scale and growth opportunities, adding a broad portfolio and a large, differentiated pipeline of niche products," the company continued in the statement.

"In addition, Hikma’s swift integration of its acquired US company, Bedford Laboratories, has delivered new high-value products and is expected to drive Injectables’ growth in 2017," it elaborated.

The statement indicated that in Europe significant investments were made in the injectables manufacturing capabilities and that  Hikma’s businesses in MENA performed well. 

The company credited its acquisition of EIMC United Pharmaceuticals (EUP) for boosting its capabilities in oncology and injectables in Egypt. 

"The outlook for 2016, is that group revenue is expected to be in the range of $2.0 - 2.1 billion in constant currency, reflecting strong growth across all three business segments and the consolidation of 10 months of revenue from the Roxane acquisition," it said.

The strong operational growth in various locations was coupled with responsible initiatives in surrounding communities. 

Contributing to the health and wellness of its employees and local community members, Hikma organised a breast cancer awareness campaign, in several of its companies worldwide, in addition to a “Walk Against Hypertension.” It also held its annual global “You are Hikma” campaign to improve the medical health and safety awareness of its employees. 

The company encouraged community service through its Global Volunteering Day. It partnered with Tkiyet Um Ali, Charity Clothing Bank and SOS Children’s Villages in Jordan to provide for the vulnerable during Ramadan, and food and clothes drives were held in Algeria and Tunisia as well. 

Hikma continued supporting communities through medicinal donations, donating critical treatments to Syrian and Palestinian refugees, and to the people of Guinea in Morocco, aiding in the fight against Ebola.

Said Darwazah, chief executive officer of Hikma, said:  "Following an exceptional 2014, our branded and injectables businesses performed strongly in 2015 and we made excellent strategic progress in US generics, transforming the future prospects of the group." 

"Our businesses in MENA are performing very well.  We achieved excellent growth in our key markets in 2015 whilst continuing to invest in our pipeline to support future growth," he added. 

 

"This goes hand in hand with our corporate responsibility strategy, which is an integral part of Hikma. As we expand into global markets, we are committed to continue playing a positive role in the communities we touch, not only through our high-quality pharmaceuticals, but also by promoting philanthropy, medical awareness and community engagement,” Darwazah concluded.

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