Hikma Pharma

The London, UK, Stock Exchange-listed Jordanian drugmaker Hikma Pharmaceuticals achieved revenue growth of 20.9% to $317.0 million for the full year 2006, with particularly strong performances in its branded and injectable businesses, where sales increased 39.9% and 37.1%, respectively. Operating profit increased 8.7% to $75.2 million and pretax earnings were 7.4% higher at $75.6 million for the year.

On the negative side, Hikma's generic drugs turnover declined 1.3%, impacted particularly by competition and weak prices in the USA, with operating profit for this business falling 7%.

Pointing to highlights of the reporting period, the firm said it delivered 24.3% growth in profit attributable to shareholders (totaling $54.5 million); consolidated its position in the fast-growing Saudi Arabian and the wider Gulf Cooperation Council (GCC) market (which includes Bahrain, the Emirates, Kuwait, Oman, Qatar and Saudi) through the acquisition of the remaining 52.5% share of JPI not previously owned by Hikma; substantially increased capacity, with the addition of a new manufacturing plant in Algeria, the completion of a cephalosporin plant in Portugal, and the expansion of facilities in Jordan and the USA; and launched 23 new products, received 191 regulatory approvals and submitted 88 regulatory filings during the year.