StockMarketWire.com - Hikma Pharmaceuticals reiterated its full-year guidance on Friday after reporting that its injectables, generics and branded businesses benefited from new product launches in the first four months of the year.

The company also said its efforts to reduce costs across the group were on track.

Its global injectables business was enhanced by six product launches in US year-to-date, meeting increased demand across its marketed portfolio. This demand more than offset increasing competition on certain key products, the firm said.

In Europe, the performance of the injectables business was driven by good demand, while in the MENA region strong revenue growth was generated by recent launches, including an acceleration in biosimilar sales.

For the full year, the firm expected injectables revenue in the range of $750m to $800m and core injectables operating margin to return to more normalised levels in the low to mid 30s.

The generics business made a good start to the year but the US retail market remained challenging. The firm continued to focus on lowering its cost base and launched a repeat clinical endpoint study for generic Advair Diskus. New clinical data is expected to be submitted to the FDA in 2019, the firm said.

The generics division revenues in 2018 is expected in the range of $550m to $600m and core generics operating margin in the low-single digits.

The firm said it expected branded revenue growth for the full year to be in the mid-single digits in constant currency driven by new launches of branded generics and in-licensed products across its key markets.

At 8:43am: [LON:HIK] Hikma Pharmaceuticals PLC share price was -2p at 1398p



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