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Hikma delivers an excellent performance in 2013 with Group revenue growth of 23%

March 13, 2014 4:30 pm

Hikma Pharmaceuticals PLC (“Hikma”), the fast growing multinational pharmaceutical group with sales covering 50 countries across the Middle East and North Africa (MENA), Europe and the US, reports its preliminary results for the year ended 31 December 2013.

The Group delivered a strong performance across its businesses in 2013, with a 23% increase in revenue. These results reflect the commitment of Hikma’s various companies to their markets worldwide and the local communities by providing high quality affordable products and focusing on the sustainable development of healthcare systems.

In the MENA region, where Hikma employs 5,532 people, the company focused on improving its product mix enhancing sales activities and driving further manufacturing efficiencies. Branded revenue grew by 5% reflecting good demand for its medications. As for its global Injectables business, revenue grew by 14%, driven by a strong performance in the US as it continued to include higher value, more differentiated products to the product portfolio. In Europe, the business continued to grow, with strong volume growth and new product launches. Generics business benefitted from very strong sales of doxycycline, generating strong profitability

The company continued to provide new high quality treatments at affordable prices in key therapeutic areas across all countries and markets and launched 104 new products and received 241 product approvals.

Hikma began 2013 with the acquisition of the Egyptian Company for Pharmaceuticals and Chemical Industries (“EPCI”) in January, which added a number of strategic products, including cephalosporins and ophthalmics. In Morocco, the product portfolio was enhanced by receiving the first approvals for Hikma products in the second half of 2013, which have recently been launched

As well as continuing to invest in the MENA, Hikma is actively looking at opportunities to enter new emerging markets. In September, it began expansion into Sub-Saharan Africa with a joint venture with MIDROC Pharmaceuticals Limited, to enter the Ethiopian pharmaceutical market.

Said Darwazah, Chief Executive Officer of Hikma, said, “The Group had an excellent year, with all of our businesses delivering good revenue growth and improved profitability. In MENA, our focus on improving the product mix, enhancing our sales activities and driving manufacturing efficiencies delivered good growth and better profitability. Our global Injectables business continued to perform very well, particularly in the US, where we are maximizing the potential of our portfolio and further improving margins. Our continued investment to develop our product pipeline and focus on operational excellence will help to sustain future growth. Overall, I am very pleased with the results we achieved in 2013 and confident about the prospects for 2014.”

HIKMA Pharmaceuticals
Hana Ramadan, Dana Shekem
Tel: (+962) 6 5802900 Ext. 313, 311

FTI Consulting
Manash Bhuyan
Tel: (+971) 4 437 2100