LONDON (dpa-AFX) - Hikma Pharmaceuticals plc (HIK, HIK.L), on Thursday, said it is on track to deliver very strong earnings growth for the full year.
The company now expects full-year revenue growth and core operating margin in Injectable business to be at the lower end of its guidance range of 7% - 9% and 36% - 37%, respectively.
Further, Hikma continues to project Branded revenue to grow in the mid-to-high single digits in constant currency. On a reported basis, assuming no further adverse currency movements, the company still expects Branded revenue to be in line with 2022, offsetting headwinds resulting from the devaluation of the Egyptian Pound and the closure of its Sudan operations. Given its strong performance and focus on efficiencies, Hikma now sees its core operating margin to expand to around 23% for the full year.
The company now sees Generics business revenue in the range of $920 million - $940 million and a core operating margin of around 20%, up from previous guidance of close to 30% growth and margins of 18% - 20%.
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