# Hikma Pharmaceuticals Plc Group revenue of $1,950 million, up 35%

- Link: https://www.directorstalkinterviews.com/hikma-pharmaceuticals-plc-group-revenue-1950-million-35/412725505
- Published: 2017-03-15T09:32:50+00:00
- Author: Giles Arbor

**[Hikma Pharmaceuticals PLC](https://www.directorstalkinterviews.com/ftse-company/hikma-pharmaceuticals/hik.l)**(
Hikma, Group) (LON:HIK) (NASDAQ:HIK) (OTCMKTS:HKMPY) (rated Ba1 Moody’s / BB+ S&
P, both stable), the fast-growing multinational pharmaceutical group, today reported
its preliminary results for the year ended 31 December 2016. The financial results
include the consolidation of ten months of Roxane Laboratories (now West-Ward Columbus).

2016 financial highlights

· Group revenue of $1,950 million, up 35% and up 39% in constant currency1

· Group core2 operating profit of $419 million, up 2% and up 14% in constant currency,
reflecting strong growth in Injectables and Branded profitability, partially offset
by a lower contribution from the Generics business and a step-up in R&D investment
across the Group to support sustainable growth

· Group reported operating profit of $302 million, down 21% and down 9% in constant
currency, reflecting a significant increase in intangible amortisation and exceptional
items in 2016

· Group core basic earnings per share of 118.5 cents, down 18% and down 5% in constant
currency following the issuance of 40 million additional shares in February 2016
in relation to the West-Ward Columbus acquisition

· Proposed final dividend of 22 cents per share, and full year dividend of 33 cents
per share, up from 32 cents per share for the full year in 2015

· Group revenue in 2017 expected to be around $2.2 billion in constant currency

2016 strategic highlights

· Completed West-Ward Columbus acquisition, making significant progress with integration
and cost synergies

· Completed acquisition of EUP, strengthening our position in the fast-growing Egyptian
market

· Launched 206 products in different dosages and strengths and received 343 approvals
for products in different dosage forms and strengths, expanding and enhancing our
global product portfolio

· Launched 9 Bedford products by the end of 2016 and on track to achieve our target
of 20 Bedford launches by the end of 2017

> **Said Darwazah, Chairman and Chief Executive Officer of Hikma Pharmaceuticals,
> said:** “We made significant strategic progress in 2016. The acquisition of West-
> Ward Columbus is transforming our Generics business and the Group as a whole. 
> This is our largest acquisition to date and the integration process has been both
> challenging and exciting. We expect the Generics business to achieve significant
> growth in revenue and profitability in the coming years as we focus on pipeline
> execution and portfolio optimisation.
> Our global Injectables business delivered excellent growth in revenue and operating
> profit in 2016, at the same time as we more than doubled our R&D investment to
> underpin the long-term growth potential for this business. In the MENA, our reported
> results were impacted by the devaluation of the Egyptian pound in November 2016.
> However, our strategic focus on higher value products, combined with tight cost
> control, drove significant growth in operating profit in constant currency and
> a meaningful margin expansion.
> Our business today is stronger than ever. We are well positioned across our markets,
> with a large and differentiated portfolio and pipeline and we are confident in
> the future prospects of the Group.”

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