 raised its guidance for the year, after a promising first-half of trading for the Jordan-based company. ){kind=link}
Hikma Pharmaceuticals (LON:HIK) raised its guidance for the year, after a promising first-half of trading.
The multinational pharmaceutical company reported group revenue of $989 million, up 11 percent.
Across the same period, operating profit was $174 million, an increase of 54 percent.
The firm attributed the strong performance to stronger sales of injectable opioids in the United States due to supply shortages, as well as a better-than-anticipated performance in generics for the first half of 2018.
Commenting on the results, chief executive Siggi Olafsson said: “Our performance in the first half exceeded our expectations and we are pleased to be able to raise our guidance for both our Injectables and Generics businesses for the full year,”
“The measures we have taken and investments we have made across the Group over the past year are delivering results, but we still have work to do.
“Our markets are competitive and we don’t expect the same demand for some of our injectable products to continue into 2019.”
Hikma Pharmaceuticals is based in Jordan, but has been listed on the London Stock Exchange since 2005. It is now part of the FTSE 250 Index.
The firm operates in 11 countries – The U.S, Portugal, Jordan, Saudi Arabia, Italy, Morocco, Tunisia, Germany, Sudan, Algeria and Egypt.
Shares in Hikma Pharmaceuticals are currently trading +8.50 percent as of 14.21PM (GMT).