Hikma's 1st-half profits rise 19.9% to $30.1M

Amman, Jordan-headquartered Hikma Pharmaceutical says that its revenues for the six months to June 30 were $154.9 million, up 17.6% on the comparable period last year. The firm added that the sales increase had pushed its gross profits up 19.9% to $30.1 million, representing diluted earnings per share of $17.20.

Hikma went on to explain that, to June 30, it had received regulatory approval for 82 drugs, which it cited as an indication of its progress this year given that it only achieved a total of 98 approvals in full-year 2005.

The firm added that construction of both its new cephalosporin manufacturing plant in Portugal, as well as its R&D laboratories in Jordan, is nearing completion. The company's share price jumped 9.5% to L4.00 on the day of the news.