LONDON (dpa-AFX) - Hikma Pharmaceuticals plc (HIK, HIK.L) reported Friday positive trading in its segments and reiterated guidance for the full year.
In its trading update ahead of Annual General Meeting today, the company said it continues to expect full-year Injectables revenue to be in the range of $750 million to $800 million and core Injectables operating margin to return to more normalised levels in the low to mid 30s.
The company also reiterated expectations for Generics revenues in 2018 in the range of $550 million to $600 million and core Generics operating margin in the low-single digits.
Branded business is also performing well. The company continues to expect Branded revenue growth for the full year to be in the mid-single digits in constant currency.
Siggi Olafsson, Hikma's CEO, said, 'The year is off to an encouraging start. In the first four months, our Injectables, Generics and Branded businesses are benefitting from our broad product portfolio and recent product launches. Our efforts to reduce costs across the Group are on track and we continue to focus on enhancing and investing in our pipeline. Our cash position remains very healthy and our balance sheet is strong. Altogether, these factors reinforce our positive outlook for the Group and enable us to reiterate our guidance for the full year.'
The company plans to announce interim results for the six months to June 30 on August 15.
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