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March 15 Drugmaker Hikma Pharmaceuticals Plc
said its full-year core operating profit rose 2.4
percent as weakness in its generic drugs business was more than
offset by growth in its injectables and branded business.
Hikma also said it expects profitability of its generics
business to significantly improve in 2017, driven by new product
launches and an enhanced mix of sales.
The company, which makes and markets branded and non-branded
generic and injectable drugs, maintained its expectation of $800
million in revenue from the generics business.
Hikma, which bought Boehringer Ingelheim's U.S. generic
drugs business last year, had cut its full-year revenue
expectation for the business in November, due to a slightly
slower-than-expected ramp-up in the unit.
Jordan-based Hikma, founded in 1978, also forecast 2017
revenue of about $2.2 billion on a constant currency basis.
The company said it expects branded revenue in 2017 to grow
in the mid-single digits on a constant currency basis while it
expects injectables revenue to be between $800-$825 million.
Core operating profit rose to $419 million for the year
ended Dec. 31 from $409 million.
Revenue rose 35.4 percent to $1.95 billion in
(Reporting by Arathy S Nair in Bengaluru; Editing by Sunil Nair
and Vyas Mohan)