2017 results boost Hikma despite billion dollar write-off

14 March 2018
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London-listed Hikma Pharmaceuticals (LON: HIK) is trading about a tenth higher today after the generics manufacturer posted a 2017 results statement showing revenues of $1.9 billion, in line with analysts’ expectations.

The figures for both revenues and earnings before interest, taxes, depreciation and amortization (EBITDA), which came in at $488 million, were around the same as in 2016.

The positive reaction from investors comes despite the firm writing off over a billion dollars related to its US-based generics unit, West-Ward Columbus, leading to an annual loss of $747 million.

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