Hikma delivers strong sales and 25% earnings growth in 2010

Jordon-headquartered drugmaker Hikma Pharmaceuticals (LSE: HIK) reported its preliminary results for the year ended December 31, 2010, yesterday, with group revenues up 14.8% to $730.9 million and operating profit up 25.9% to $135.1 million, reflecting continuous growth through diversification.

Gross margin improved to 48.9%, compared to 47.8% in 2009. Operating margin increased to 18.5%, compared to 16.8% in 2009. The group’s profit attributable to equity holders of the parent increased b27.2% to $98.8 million. Diluted earnings per share for the year were 50.2 cents, up 25.2% from 40.1 cents in 2009.

Said Darwazah, chief executive of the drugmaker, said: “In 2010, Hikma continued its track record of doubling sales every four years. This success rests on the strength of our diversified business. We achieved double digit growth in our Branded business, with an excellent performance in our top markets. The performance of our Generics business exceeded our expectations, as our commitment to quality and service has helped to create new opportunities in the very competitive US market. This commitment to quality and service also contributed to the strong performance of our US injectables business and to the increased demand for injectable contract manufacturing in the USA and Europe.”