Hikma Pharmaceuticals Plc (LON: HIK) have held their 2019 guidance figures, saying that performance had been strong across all divisions and that expectations were set to be filled.
Shares of Hikma are trading at 1,988p per share. 7/11/19 11:00BST
The London-headquartered company said it is benefiting from its “broad and differentiated” product portfolios, strong commercial capabilities, and tight cost control.
The results will suffice shareholders as the pharmaceuticals market continues to get more saturated amid tough competition.
Last week, global titans such as Pfizer (NYSE: PFE) reported that they had smashed analyst expectations in their third quarter update.
In order to combat the big players, firms such as Alexion Pharmaceuticals (NASDAQ: ALXN) bought Achillion (NASDAQ: ACHN) in a $930 million deal.
Domestic competitors which include GlaxoSmithKline (LON: GSK) also raised their annual profit forecast following a period of bullish trading.
Hikma continues to expect global Injectables revenue to be in the range of $870 million to $900 million for 2019 and for the core operating margin to be in the range of 36% to 38%.
For the full year, Hikma now expects Generics revenue to be closer to the top end of its guidance range of $690 million to $720 million and continue to expect the core operating margin to be in the range of 16% to 18%.
“I am pleased to reiterate our full year guidance for the group in 2019. We continue to execute against our strategic priorities and all three of our businesses continue to deliver good organic growth and profitability in line with our expectations,” said Chief Executive Siggi Olafsson.
He added: “We are successfully launching new products while making strategic investments in research and development and partnerships to drive sustainable long-term growth.”
The company are set to report financial 2019 results on 27th February 2020, and the effect of tough competition and new product diversification will be seen in this report.
