Amman: Jordanian drugmaker Hikma Pharmaceuticals Plc reported a 44 percent rise in first-half adjusted profit and announced a special dividend of 4.0 cents per share to reflect the strong performance of its U.S. injectibles business.
Adjusted profit attributable to shareholders rose to $176m in the six months ended June 30 from $122m a year earlier. Revenue rose 16 percent to $738m.
Hikma, which makes and markets branded and non-branded generics and injectibles, said revenue from injectibles rose 41 percent to $346m.
The company, which benefited from a shortage of the antibiotic doxycycline last year, said in May that it was focusing on high-value products in its injectibles business.
Adjusted operating margins in the business rose to 41.0 percent in the first half from 28.5 percent a year earlier.
“This reflects exceptionally strong sales from certain market opportunities in the U.S., a focus on higher-value products and tight control of overhead costs across our manufacturing facilities,” the company said. Hikma strengthened its injectibles business earlier this year by acquiring Boehringer Ingelheim’s US generic injectibles business and manufacturing operations in Ohio.
The company’s regular interim dividend was unchanged at 7 cents per share. The company paid a special dividend of 3 pence per share last year to reflect the strong performance of its generics business. Hikma’s shares were up 0.3 percent at 1809 pence in early trading on the London Stock Exchange oyesterday.
Reuters
