StockMarketWire.com - Generic pharmaceuticals company Hikma Pharmaceuticals upgraded its outlook on its injectable business after first-half results came in ahead of its expectations on increased demand for Covid-19-related products.

For the six months ended 30 June, pre-tax profit rose to $274m from $226m on-year as revenue grew 8% to $1.13bn.

Revenue at the injectables business grew 13% to $485m.

Looking ahead, Hikma said its injectables revenue was now expected to be between $950m and $980m, with a core operating margin in the range of 38% to 40%.

Generics revenue was now expected to be in the range of $720m to $760m and core operating margin to be around 21%.

Branded revenue, meanwhile, was expected to grow in the mid-single digits in constant currency.

'We have a positive outlook for each of our three businesses and look forward to the second half with confidence,' Hikma said.

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