- Hikma Pharmaceuticals swung to a profit on Wednesday after it boosted injectables revenue, though it warned of lower sales in its generics business due to price cuts.

For the 12 months to 31 December, the company reported a profit of $408m compared with a loss of $738m a year earlier and revenue increased 8% to $2.07bn.

Its injectables business delivered revenue of $826m a for the year in line with previous guidance for revenues in a range of $825m to $850m.

Going forward, the company expected global Injectables revenue to be in the range of $850m to $900m in 2019, with revenue growth from new product launches and good demand for our in-market portfolio more than offsetting continued price erosion and an easing in demand for products on shortage.

Core operating margin for injectables was expected in the range of 35% to 38% in 2019.

Full-year generics revenue rose 13% to $692m, in with expectations for revenues between $675m and $700m.

Generics were expected to generate revenue between $650m to $700m in 2019.

'We expect Branded revenue to grow in the mid-single digits in constant currency in 2019 Looking beyond 2019, we expect to benefit from our continued investment in R&D across our businesses and we will look to fill pipeline gaps through business development,' the company said.

At 8:03am: [LON:HIK] Hikma Pharmaceuticals PLC share price was -0.5p at 1655p

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