Hikma reports strong H1 performance, raises generics drugs guidance

Hikma Pharmaceuticals, a multinational pharmaceutical company, on Thursday reported its interim results, which showed a strong performance in the January-June period of 2023. According to a press statement, the group said that group revenue went up by 18 percent with strong growth in all three business segments to reach $1.427 billion, compared to the $1.213 billion recorded in the first half of 2022. The group’s core operating profit grew by 35 percent to $401 million, reflecting H1 weighting of Generics and Branded drugs while good net cash inflow from operating activities rose by 31 percent to $222 million compared to the same period of last year. Said Darwazah, Executive Chairman and Chief Executive Officer of Hikma, said: “Our strong first half performance reflects growth across all three of Hikma’s businesses and geographies. Across our global operations we have continued to strengthen our businesses and processes, including adding to, and enhancing our manufacturing capabilities.” “Our investments in research and development have yielded several new product launches and pipeline expansion, broadening our differentiated product portfolio. We continue to win important new contracts and expand in new markets, all of which are enabling Hikma to make more medicines accessible to the healthcare providers and patients who need them most,” he pointed out.

Source: Jordan News Agency