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FINANCIAL NEWS
Jordan’s Hikma reports USD532.3m profit in H1
17 Aug 2012
(MENAFN) Jordan-based drugmaker Hikma Pharmaceuticals posted a 34.8 percent increase in half-yearly profits, Gulf Business reported.
The company said it made USD532.3 million during the first half of 2012 year-on year, while operating profit rose 53.1 percent increase to USD75.1 million.
Generics revenue declined by 27.0 percent to USD55.8 million, as a result of the impact of additional compliance work at the Eatontown facility and increased pricing pressure.
Injectables revenue grew 94 percent, offsetting lower margins in the generics business.
The company revised its full year revenue outlook guidance to around USD115 million.
Hikma launched 37 products and received 33 product approvals in the first half of this year.
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