Hikma Sharpens Focus On COVID-19 Demand
Maintains Financial Guidance Amid Coronavirus Challenges And Uncertainty
Hikma says it is prioritizing the production and delivery of medicines that are in the highest demand amid the COVID-19 pandemic, as the firm has provided a trading update that maintains its sales forecasts in the face of “challenging market conditions” and uncertainty.
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Hikma has seen its reported operating profit jump by a quarter in the first half of 2020, as a lift from its injectables business helped to drive up turnover by almost a tenth.
Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.
As Hikma launches propofol vials in three presentations in the US to address a local shortage, CEO Siggi Olafsson explains how the company is more broadly keeping on top of the higher demand generated by the coronavirus pandemic.