Hikma down despite upbeat trading statement

7 November 2019

Shares of London-listed Hikma Pharmaceuticals (LSE: HIK) were down 2% at 1,984.50 pence in mid-morning trading, after the company issued an update on current trading.

Siggi Olafsson, chief executive of the Jordan-based drugmaker, commented: “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. We are benefitting from our broad and differentiated product portfolios, strong commercial capabilities and tight cost control. We are successfully launching new products while making strategic investments in R&D and partnerships to drive sustainable long-term growth.”

As this is its trading update rather than third-quarter results, the company is not giving a breakdown of sales and earnings at this stage. Numbers for the year ended December 31, 2019 will be published on February 27, 2020.

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