Hikma’s First-Half Profits Leap By A Quarter
As Sales Ahead By Almost A Tenth, Boosted By Injectables
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.
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Hikma has received another setback on its US application for a generic version of Advair following a minor complete response letter from the FDA. The resulting delay will push back the expected final response date from the agency closer to that expected by rival Cipla, which filed an ANDA earlier this year.
As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Careful supply-chain planning and an agile, flexible approach to manufacturing have been key in helping Hikma to stay on top of the “rollercoaster ride” provided by the COVID-19 pandemic in 2020 so far, according to CEO Siggi Olafsson.