Hikma sees strong branded drug sales

Amman, Jordon-headquartered Hikma Pharmaceutical, which listed on the UK's London Stock Exchange in 2005, has issued a pre-close season statement saying it has seen a strong sales performance in its branded drug business,which mainly consists of prescription medicines for the Middle East, although it did not provide actual figures. For 2005, the firm posted sales of $262.0 million (up 23.5% on the prior year), of which branded pharmaceuticals accounted for 35.5%, generics 43.9% and injectables 18.8%, and profits attributable to shareholders were $44.0 million.

Hikma noted that, as had been anticipated, the new drug reference pricing regime in Algeria has had an impact on sales in that country during the first half of 2006, although this has been mostly offset by a strong performance in other markets. The firm stated: "we remain confident that we can deliver growth in Algeria on a full-year basis," adding that, "this, combined with new product launches and increased penetration of new and existing markets, should accelerate branded sales growth in the second half of the year."