Hikma Explores Fresh Opportunity In France
Establishing Local Subsidiary Marks ‘Official Entry’ Following Supply Via Third Party
Hikma has expanded its European presence by establishing a subsidiary in France, marking its “official entry” into the major market following previous supplies through a third-party partner.
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Hikma says all options are on the table for its beleaguered generics business, with an immediate sale unlikely but the door open for a longer-term exit strategy. Meanwhile, the firm has also offered an update on recruitment for a new CEO.
Hikma has once again downgraded its expectations for its generics business in 2022 as it revealed a first-half drop of 18% in sales for the unit. However, injectables and branded increases helped to offset the decline, while the company maintained that generics growth was on the horizon in 2023.
With added steriles capacity coming online, Hikma is looking soon to expand its Injectables business unit into France and Spain. The company is also considering options for marketing injectable drugs in Canada.