LONDON, August 25, 2011 /PRNewswire/ --
Hikma Pharmaceuticals reports lower-than-expected 3.2% increase in revenues for the first half but maintains its full-year outlook.
The international drug developer says that political unrest in the MENA region disrupted month-on-month sales in some key countries like Egypt and Tunisia.
In an interview with financial broadcaster http://www.cantos.com, Hikma CEO Said Darwazah says that production is back to normal and that in spite of difficulties the group managed to grow the business organically by 3% in the MENA region.
While the group's Multi-Source Injectables division, which was acquired from Baxter Healthcare last year, was impacted by transaction delays, Mr Darwazah remains confident the business "will be breaking even" by the fourth quarter.
Hikma's CEO also makes clear that further acquisitions in emerging markets are in the pipeline. In the interview he reiterates full-year guidance of 7% organic growth and 20% overall business growth.
The interview and transcript are available now on http://www.cantos.com/company/Hikma%20Pharmaceuticals.
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SOURCE Hikma Pharmaceuticals