Jordan's Hikma delivers 10.4% sales growth in first half 2011

Jordon-headquartered Hikma Pharmaceuticals (LSE: HIK) has reported interim results for the six months ended June 30, 2011, showing that group revenue increased by 10.4% to $394.8 million, with organic growth of 3.2%

Branded revenue increased by 3% despite disruptions in several MENA markets and remains on track for around 7% full year growth. Generic revenues declined 12.4% as expected, reflecting the exceptional colchicine sales in the first half of 2010, the company noted. Excluding colchicine, Generics delivered double-digit revenue growth and remains on track to achieve around $160 million in revenue for the full year. There was also excellent revenue growth in the global Injectables business of 55.9%, with organic revenue growth of 21.6% and organic operating profit up 41.0%, said Hikma.

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