StockMarketWire.com - Pharmaceutical company Hikma Pharmaceuticals raised its guidance on annual performance of its generics business following a jump in profit in the first half of the year.

'We are continuing to benefit from investments we have made to build our pipeline of new medicines and our progress in the first half underpins our improved outlook for the full year,' the company said.

For the six months ended 30 June 2021, pre-tax profit rose to $319 million from $274 million year-on-year as revenue increased 7% to $1.2 billion.

The company said it is recommending an interim dividend of 18 cents per share, up from 16 cents per share last year.

In its injectables segment, the company continued to expect revenue growth in the mid-single digits, with core operating margin in the range of 37% to 38%

In its generics business, the company now expected revenue to be in the range of $810 million to $830 million and core operating margin to be in the range of 22% to 24%.

The branded business is expected to generate revenue in the mid-single digits in constant currency.



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