Hikma Pharmaceuticals recently announced a strong performance in 2023, showcasing an increase in net profit along with double-digit revenue growth across all business segments. The London-listed multinational pharmaceutical group remains optimistic about sustaining growth throughout 2024.
Financial Highlights
- Net Profit: $190 million in 2023 compared to $188 million
- Revenue: Increased by 14% to $2.875 billion from $2.52 billion
- Business Segments: Branded business revenue rose by 3% to $714 million, while generics revenue increased by 6% to $937 million
- Operating Profit: Went up to $707 million from $596 million (underlying operating profit)
Outlook for 2024
For the upcoming year, Hikma Pharmaceuticals anticipates revenue growth to fall within the range of 4% to 6%. The company also projects a net profit ranging from $660 million to $700 million in 2024.
Opioid Settlement
Earlier this month, Hikma reached an agreement in principle for a nationwide settlement to address opioid-related claims in the U.S. The settlement involves cash payments of up to $115 million and donations of naloxone worth up to $35 million.
Dividend and Future Prospects
The board declared a full-year dividend of 72 cents per share, an increase from 56 cents per share in 2022. This decision reflects the company’s confidence in the long-term growth potential of Hikma Pharmaceuticals. Chief Executive Officer Riad Mishlawi highlighted their strategic focus on execution, market leverage, and continuous investment for the future.
In conclusion, Hikma Pharmaceuticals’ strong performance in 2023 sets a confident tone for the company as it aims for sustained growth and success in the pharmaceutical industry.
