Hikma Pharmaceuticals (LON:HIK) reported its interim results on Wednesday, managing to maintain its full year profit guidance despite a 38 percent drop in operating profit.
Revenue rose 24 percent to $882 million, up from $709 million in the same period last year. However, EBITDA fell 9 percent, with basic earnings per share also taking a 62 percent hit.
CEO and Chairman Said Darwazah commented:
“Our global Injectables business is performing well, with revenue growth and strong profitability driven by a favourable product mix. We continue to successfully transfer the Bedford products to our injectables facilities.
“We are confident that we have the regulatory, R&D and commercial capabilities to realise the full potential of our pipeline opportunities over the coming years.”
Hikma manufacture and market pharmaceuticals across several markets, including Europea and the Middle East. Shares in the company fell over 3 percent on Wednesday, trading at 2,229.80 at 1607GMT.