Hikma announces 23% revenue growth

AMMAN — Hikma Pharmaceuticals Plc. announced Wednesday in a press statement that its earnings increased by 23 per cent last year. “In the Middle East and North Africa, where Hikma employs 5,532 people, the company focused on improving its product mix enhancing sales activities and driving further manufacturing efficiencies,” the company said in the statement. It pointed that branded revenue grew by 5 per cent and that income from global injectables business grew by 14%, driven by a strong performance in the US. According to the company, generics business benefitted from very strong sales of doxycycline which generated strong profitability. Boasting sales to 50 countries across MENA, Europe and the US, “Hikma is actively looking at opportunities to enter new emerging markets. In September, it began expansion into Sub-Saharan Africa with a joint venture with MIDROC Pharmaceuticals Limited, to enter the Ethiopian pharmaceutical market”.