Hikma maintains guidance

12th Nov 2010 07:58

Hikma Pharmaceuticals still thinks revenue growth for 2010 will be in the low teens and gross margin will be higher than in 2009.The Jordan-based firm is "performing well" this year, with strong growth for the branded business in the Middle East and North Africa (Mena) region during the second half, especially in Algeria.That keeps the branded business on course for low double digit revenue growth for the full year. Sales have been accelerating at the global injectables business since July, with the US particularly strong and Europe stable. A "significant" improvement in operating margin is expected for the year.At the generics business, sales continued to perform "very well" and were especially strong in September. Sales growth of at least 20% is predicted for the full year "We remain confident that our strategy of organic growth supplemented by acquisitions and partnerships will continue to deliver excellent results for the group," it said Friday. Results for the 12 months to 31 December are pencilled in for 16 March.