February 27, 2020 / 7:40 AM / a month ago

Hikma forecasts 2020 growth after its profit tops as treatment demand grows

Feb 27 (Reuters) - Hikma Pharmaceuticals on Thursday forecast sales growth for 2020 after it surpassed analysts’ expectations for annual operating profit and revenue, as demand for its injectable treatments and newly launched drugs in the United States rose.

The company, which makes and markets a broad range of branded and non-branded generic medicines, said core operating profit rose 10% to $508 million for the year ended Dec. 31.

Analysts on average were expecting core profit of $498 million, according to a company compiled consensus here

Hikma also said it currently does not anticipate any material impact to its business from the coronavirus outbreak as it does not have extensive operations or manufacturing in China.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Vinay Dwivedi

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