Hikma Pharmaceuticals, a multinational pharmaceutical group based in London, has reported lower-than-expected growth in its injectables business in North America. The company attributes this slowdown to short-term supply and capacity constraints, which have begun to ease.
According to Hikma, full-year revenue growth and operating margins for the injectables division are anticipated to be at the lower end of the initially projected range. The company had previously guided for revenue growth between 7% and 9%, with core operating margins ranging from 36% to 37%.
Despite these challenges, Hikma remains optimistic about other areas of its business. The company expects its branded division to experience mid-to-high single-digit revenue growth on a constant-currency basis, with core operating margin increasing to approximately 23%.
In regards to generics, Hikma forecasts revenue in the range of $920 million to $940 million, with a core operating margin of around 20%. This is a slight adjustment from their previous guidance, which predicted revenue growth close to 30% and margins between 18% and 20%.
Hikma Pharmaceuticals is pleased with the overall performance during the first half of the year and believes it is well-positioned to achieve strong earnings growth for the full year.