Hikma Pharmaceuticals expects 2020 sales growth after posting 10% profit rise – The National

Hikma Pharmaceuticals expects 2020 sales growth after posting 10% profit rise – The National

Drugmaker does not foresee "any material impact" to its business from the coronavirus outbreak. London-listed Hikma Pharmaceuticals expects sales growth in 2020 after posting a 10 per cent rise in annual core operating profit for 2019 driven by higher revenue as demand for its injectable drugs grew.. Hikma, which produces and markets a wide range of branded and non-branded generic medicines, has been helped by newer launches that cushioned it from drug pricing pressure in the US - its biggest market.. "Saudi Arabia and Egypt, performed well - reflecting strong market positions and good demand for marketed products and new launches," it said.. "Hikma also delivered a good performance across most of its other Mena markets, which more than offset significantly lower sales in Algeria resulting primarily from political and economic disruptions.". Hikma's business segments all recorded double-digit revenue growth in 2019, led by the injectable drugs business.. In 2020, Hikma expects its injectable drugs revenue to grow in the "low to mid-single digits", driven by new product launches and demand for its existing products across all of its markets, which should "more than offset" continued price erosion, it said.. The company forecasts its generic drugs revenue to be in