Hikma shares were trading down 0.3% at 2,055p despite a 9% increase in group revenues.
Hikma’s revenue grew from $2.3bn to $2.5bn in 2021 with strong performances in all three divisions of the pharmaceutical company.
Injectables contributed 41% to the group revenues with an amount of $1bn. The US consisted of $691m and the Middle-East and North-Africa (MENA) markets accounted for $180m of that amount.
Generics saw a revenue growth of 10% in the segment to $820bn. The growth mainly came from recently launched products such as Kloxxado and generic Advair Diskus.
The branded segment had an increase of 9% in revenue to $669m with strong performance coming from the MENA region with their chronic illness treatments.
R&D will continue to have a 6% investment taken from the revenues to continue growing their pipeline of products.
Hikma’s operating profit saw a 12% increase to $632m in 2021.
The group also saw a 38% increase to $638m in cashflow from operating activities.
The company has a net finance expense of $39m, up from $22m in 2020 due to refinancing costs and losses in interest income.
The group’s net debt has decreased by $185m to $420m in 2021.
The reported profit attributable to shareholders dropped 2% to $421m in 2021 whilst the core profit attributable to shareholders saw a 10% increase to $450m.
The group decided on 26p as a recommended final dividend in 2021, summing up to a total dividend of 40p.
Siggi Olafsson, Chief Executive Officer of Hikma, said, “Hikma delivered strong financial results in 2021, marking another successful year of solid growth and continued strategic momentum.”
“Our operational strength and high quality standards ensured our ability to provide customers with a consistent supply of essential medicines in a challenging environment.”
“Our Injectables business is now supplying US hospitals with sterile compounded pharmaceutical products, has expanded into Canada, and is set to grow further with the acquisition of Custopharm1 and our expansion into US biosimilars.”
“Our Generics business is bringing more complex and specialty products to market, launching Kloxxado and generic Advair Diskus in 2021, and with additional product launches planned for this year.”
“Our Branded business is delivering consistent growth, with an increased focus on medications to treat chronic illnesses.”
“We have an exciting platform that will drive continued growth and progress in the year ahead.”