Hikma Pharmaceuticals reported a strong 9% revenue growth in 2024, reaching $3.127 billion. Strategic acquisitions, including Xellia Pharmaceuticals and Takeda brands, bolstered its injectables and branded segments. The company’s performance in MENA and European markets further contributed to growth, while its CEO expressed optimism for the future due to ongoing investments in the business.
Hikma Pharmaceuticals PLC reported strong financial results for 2024 with a notable 9% increase in revenue, reaching $3.127 billion, up from $2.875 billion in 2023. This growth reinforces its position as the seventh-largest supplier of generic medicines in the United States and the second-largest pharmaceutical company by sales in the MENA region for the second consecutive year.
Strategic expansions contributed to Hikma’s growth, including the acquisition of Xellia Pharmaceuticals’ US finished dosage form business, enhancing its injectables division. Additionally, the company secured an agreement to acquire 17 Takeda brands previously licensed to Hikma, which is expected to strengthen profitability in its Branded segment.
Hikma’s injectables business, serving hospitals across North America, Europe, and MENA, grew by 9% to $1.306 billion, driven by strong performance in all geographical markets and US-based manufacturing enhancements from the Xellia acquisition. In MENA, growth was supported by new product launches and high demand for the diverse portfolio.
The company’s European operations experienced a robust 20% growth in proprietary products, benefiting from recent market entries in countries like France, the UK, and Spain. The branded segment, which includes branded generics and licensed patented products in MENA, achieved reported growth of 8%, and a 9% increase in constant currency to $769 million.
Hikma’s generics division, which supplies a range of oral and respiratory products to North American retail consumers, also saw a 9% increase, surpassing $1 billion in revenue for the first time. The division particularly excelled in market share for sodium oxybate and its nasal spray product line.
CEO Riad Mishlawi expressed confidence in the company’s future, stating, “It’s been another strong year for Hikma with double-digit revenue growth, increased profits and a resilient margin.” Mishlawi emphasized the ongoing investments in the company for sustainable future growth, including strategic acquisitions and new partnerships.
Hikma Pharmaceuticals demonstrated robust financial performance in 2024, with a 9% revenue growth and strategic acquisitions strengthening its market position. The company’s expanding injectables business and solid performance across various market segments highlight its commitment to growth and innovation. CEO Riad Mishlawi’s confidence suggests a positive outlook for the company moving forward, underpinned by strategic investments and enhanced operational capabilities.
Original Source: jordantimes.com
