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Hikma raises revenue forecast

22 Aug 2013

(MENAFN) Hikma, Jordanian pharmaceutical company, decided to raise its estimated revenue for 2013 on the back of an impressive revenue growth in the first half, The National reported.

The firm”s revenue in the first half hit USD638.3 million registering a 20 percent boost compared to first half of 2012. Revenue from the Middle East and North Africa (Mena) region jumped by 46 percent

The pharmaceutical maker, whose products are sold in the Mena region, Europe and the US, expects revenue for the entire year to increase by 20 percent.

This jump in revenue is due to strong sales of the antibiotic doxycycline. Generic drug revenue is estimated to hit USD230 million in 2013 after reaching USD132 million in the first half, registering a 136.6 percent increase.

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