Jordanian drugmaker Hikma posts strong first-half 2010 results

Fast-growing Jordan-headquartered Hikma Pharmaceuticals (LSE: HIK; Nasdaq Dubai: HIK)
has reported interim results for the six months ended June 30, 2010, showing that group revenue was up 11.3% at $357.7 million and adjusted operating profit rose 20.2% at $73.2 million, delivering continuous growth through diversification. Net profit rose 26.6% to $54.7 million.

Said Darwazah, chief executive of Hikma, commented: 'We delivered another strong set of results during the first half of 2010. Our Generic and Injectables businesses have performed very well, with exceptional sales and profitability in Generics and a strong performance in US Injectables. Branded sales were stable and we expect stronger sales in the second half of the year in this business.'

Turnover of generics drugs rose 41% to $87.2 million, while sales at Hikma's branded
division, which sells medicines in its core markets in the Middle East and North Africa, advanced 1.9% to $193.8 million, with performance held back by government restrictions on imports in Algeria, the company noted. Sales at its injectables division, which sells generic injectable drugs such as anti-infectives and chemotherapies, were up 10% at $74.5 million.