LONDON, March 17 /PRNewswire-FirstCall/ -- Hikma Pharmaceuticals today announced strong revenue growth and stable net profits despite a loss at the company’s US Generics business. The weakness in the US was offset by a strong performance from the multinational Pharma company’s Injectable and Branded businesses. CEO, Said Darwazah, said “The US operations, in 2007, reported operating profit of about $30m and in 2008 we had a loss there so in spite of this $30m plus loss the other divisions, the Branded and the Injectables, performed so well, grew so much that they were able to offset that.”
Noting the current macro economic downturn Mr Darwazah said Hikma’s diversified business model, both by geography and product, would support growth in 2009. “It’s going to be a very, very tough year. And the way we’re going to address this, as we said, is by controlled growth. Growth of 10% to 15%.”
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