14th Dec 2007 07:01
Hikma Pharmaceuticals Plc14 December 2007 Pre-close trading statement LONDON, 14 December 2007 - Hikma Pharmaceuticals PLC ("Hikma") (LSE: HIK) (DIFX:HIK), the multinational pharmaceuticals group, announces that it has seen stronggrowth in the year to date and continues to expect to deliver full year revenuegrowth of close to 40%. Excluding the acquisitions of Ribosepharm, Thymoorganand Alkan Pharma ("Alkan"), we expect to deliver organic revenue growth in themid 20% range. We expect gross margin for the Group will be close to 50%. The Branded business, which is a market leader in the Middle East and NorthAfrica (MENA), has been performing particularly well and is expected to deliverrevenue growth in the mid 40% range for the full year. This has been driven bystrong organic growth across all the MENA markets, as well as by the full year'scontribution from JPI, the Saudi-based business that became a wholly ownedsubsidiary in the second half of 2006, and Alkan, our recent acquisition inEgypt. The Injectables business has also maintained a strong performance in the secondhalf of the year and we currently expect this business to deliver strong organicsales growth in the mid 20% range and close to 80% growth includingacquisitions. We are very pleased to announce that our new cephalosporin plantin Portugal has now been accepted by the FDA for exports to the US market. We expect the Generic business to deliver single digit sales growth in 2007,compared to 2006, driven by higher volumes and the contribution from new productlaunches. As expected this growth has been achieved at lower prices, whichreflect the more competitive market environment. Irrespective of the outcome ofany future solicitation for the supply of the Lisinopril, we expect to maintain2007 Generic sales levels in 2008 driven by new and recent product launches, butexpect further pressure on margins. Commenting on the Group's performance, Said Darwazah, CEO said, 'Hikma isperforming well and we expect 2007 will be another year of strong growth,particularly in the MENA region and in Injectables. We are pleased with theongoing development of the Group and are excited about the opportunities that wehave created this year through the acquisitions of APM, our two new oncologybusinesses and Alkan, and look forward to continued growth in 2008.' Hikma will enter its close period on 12 January 2008 ahead of the announcementof its results for the twelve months ending 31 December 2007, which will be madeon 12 March 2008. - ENDS - Enquiries: Hikma Pharmaceuticals PLCSusan Ringdal +44 20 7399 2760Investor Relations Director Brunswick GroupJon Coles / Justine McIlroy / Alex Tweed +44 20 7404 5959 About Hikma Hikma Pharmaceuticals PLC is a fast growing multinational group focused ondeveloping, manufacturing and marketing a broad range of both branded andnon-branded generic and in-licensed products. Hikma operates through threebusinesses: "Branded", "Injectables" and "Generics", based principally in theMiddle East and North Africa ("MENA"), where it is a market leader and sellsacross 18 countries, the United States and Europe. In 2006, Hikma achievedrevenues of $317 million (2005 $262 million) and profit attributable toshareholders was $55 million (2005 $44 million). At 31 December 2006, the Grouphad over 2,400 employees. For news and other information, please visitwww.hikma.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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