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.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze