LONDON (dpa-AFX) - Hikma Pharmaceuticals Plc (HIK, HIK.L), on Thursday, said it expects Group revenue to grow in the range of 4% - 6% and for core operating profit to be in the range of $660 million - $700 million in 2024, in line with prior guidance.
Riad Mishlawi, Hikma's CEO, said, 'Hikma has had a strong start to 2024, with continued growth and momentum across the Group. Our three businesses are performing well, underpinned by our strong commercial and operational capabilities. We are launching new products and expanding our manufacturing capacity, which will drive sustainable future growth.'
Further, the company continues to expect 2024 Injectables revenue to grow in the range of 6% - 8% and for the core operating margin to be between 36% and 37%.
For 2024, Hikma still projects Branded revenue to grow in the mid- to high-single digits in constant currency, or low-single digits on a reported basis. Given the strong performance in the year to date, the company now sees slight growth in reported core operating profit.
Also, the company continues to expect Generics revenue to grow in the range of 3% - 5% in 2024. Hikma expects the 2024 core operating margin to be in the mid-teens, reflecting the increase in royalties payable on its authorised generic of sodium oxybate.
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