Injectables
We continue to see solid growth in our global Injectables business. In
Our MENA business is performing very well, with launches driving growth and offsetting the loss of sales in
We are continuing to invest extensively across our Injectables business to expand our portfolio and manufacturing capacity. We are making good progress on our new facilities in
We now expect full year revenue growth and core operating margin to be at the lower end of our guidance range of 7% to 9% and 36% to 37%, respectively. This takes into consideration the closure of our Sudanese manufacturing facility, investment in our compounding business and the short-term capacity constraints in the US.
Branded
Our Branded business continues to see strong demand. Medicines used to treat chronic illnesses are driving growth across our key MENA markets, offsetting the combined headwinds of the devaluation of the Egyptian Pound and the closure of our Sudanese manufacturing facility. Leveraging our local manufacturing presence and strong commercial teams, we continue to launch new products, including first-to-market generics and innovative in-licenced products. Our teams are focused on driving efficiencies at our facilities across the region, and this, combined with a favourable product mix, is leading to improved profitability.
We continue to expect Branded revenue to grow in the mid-to-high single digits in constant currency. On a reported basis, assuming no further adverse currency movements, we continue to expect Branded revenue to be in line with 2022, offsetting headwinds resulting from the devaluation of the Egyptian Pound and the closure of our
Generics
Our Generics business continues to have an excellent year, as we benefit from favourable market dynamics across our base business and a stronger than expected revenue contribution from our authorised generic of sodium oxybate.
We are pleased with the efforts we are making to utilise spare capacity at our Columbus plant for contract manufacturing and are making good progress with our specialty products.
We now expect 2023 revenue in the range of
Contact:
Tel: +44 (0) 20 7399 2760
Fax: +44 (0) 20 7399 2761
Tel: +44 (0) 20 7399 2760
Fax: +44 (0) 20 7399 2761
Email: investors@hikma.uk.com
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