Hikma Pharmaceuticals Trading Update
2/14/2014 8:34:06 AM
London, 14 February 2014 – Hikma Pharmaceuticals PLC (“Hikma”) (LSE: HIK) (NASDAQ Dubai: HIK)
(OTC: HKMPY), the fast growing multinational pharmaceutical group, will announce its full year results to
31 December 2013 on 12 March 2014. In advance of this, the company is providing an update to the market on
the strong performance of its Injectables and Generics businesses towards the end of 2013.
Since issuing our Interim Management Statement on 8 November 2013, the Injectables and Generics businesses
continued to perform very well and, as a result, Group revenue growth for the full year in 2013 will now be
around 23%, ahead of our previous guidance of around 20%.
Our global Injectables business has performed very well, with revenue growth of around 14%. Profitability has
improved and we now expect an adjusted operating margin of around 30%. This reflects a particularly strong
performance in the US, where we are focusing on higher value products, improved pricing, new product launches
and tight cost control. We are confident that our Injectables business will continue to deliver strong revenue
growth and an adjusted operating margin above 30% in 2014.
Our Generics business has benefited from strong doxycycline sales and we now expect Generics revenue of
around $270 million for the full year. Looking ahead, we expect Generics revenue to be lower in 2014 due to
increased competition in the US doxycycline market.
Our Branded business has performed in line with expectations, with revenue growth of around 5% for the full
year, or 8% in constant currency. We continue to expect adjusted operating margin of around 24%, up more than
50 basis points from last year, as a result of our strategic decision to cut low margin tender sales, a focus on
higher value products and greater emphasis on operational efficiencies.
We will provide our regular detailed guidance in respect of 2014, both for the business segments and the Group
overall, when we announce our 2013 Preliminary Results on 12 March 2014.
Hikma Pharmaceuticals PLC
Susan Ringdal, VP Corporate Strategy and Investor Relations +44 (0)20 7399 2760/ +44 7776 477050
Lucinda Henderson, Investor Relations Manager +44 (0)20 7399 2765/ +44 7818 060211
Ben Atwell/ Julia Phillips/ Matthew Cole +44 (0)20 7831 3113
Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and
marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma operates
through three businesses: “Branded”, “Injectables” and “Generics”, based principally in the Middle East and
North Africa ("MENA"), where it is a market leader, the United States and Europe. In 2012, Hikma achieved
revenues of $1,108.7 million and profit attributable to shareholders of $100.3 million.
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