Hikma maintains guidance

13th May 2010 14:52

Pharmaceutical firm Hikma has maintained its guidance for 2010 revenue growth in the low teens, with gross margin broadly in line with 2009.The group said it continues to expect Branded sales growth in the low double digits for the full year due to the disruption in the Algerian market in the beginning of the year. "Sales in Algeria have since accelerated and the outlook for the year remains in line with our expectations," it said. The Injectables and Generics businesses are performing well, it said"We expect a stronger performance in the second half, as we see the benefits of new tenders and order deliveries in the MENA region," said Hikma"Our financing position remains very strong, allowing us to actively pursue acquisition opportunities across our business. We remain confident of continuing to grow our business through acquisitions, partnerships and organic growth," it added.