StockMarketWire.com - Hikma Pharmaceuticals raised its full-year revenue guidance for both its injectables generic businesses after reporting 'strong' performance in the third quarter of the year.

The company said it expected Injectables revenue to be in the range of $825m to $850m and core injectables operating margin to be between 39% and 40%. That was above the previous guidance range for revenues of $775m to $825m.

The upbeat outlook on the injectables business comes as the company managed to offset increased competition in the US with recent product launches and ongoing growth in its portfolio.

Full-year generics revenue would be in the range of $675m to $700m and core generics operating margin in the low teens, the company said. That was above the previous guidance range for revenues of $600m to $650m. The company also said it had signed an agreement with Vectura Group to develop and sell generic versions of GSK's Ellipta portfolio, using Vectura's proprietary Open-Inhale-Close dry powder inhaler device.

'I am very pleased with the continued strong performance of the Group this year. Today we are raising our full year guidance, as we are delivering revenue growth and, more importantly, improving profitability ahead of our expectations in both our Generics and Injectables businesses,' said Siggi Olafsson, Hikma's CEO.

'In the MENA, our Branded business is continuing to grow steadily and we remain on track to meet our full year guidance. Across the Group, we are benefiting from our large and well-diversified portfolios, new product launches and our high-quality, flexible manufacturing facilities.'

At 10:26am: [LON:HIK] Hikma Pharmaceuticals PLC share price was +120p at 2037.5p



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