CORRECTED-Hikma estimates 23 percent full-year revenue growth
(Corrects currency in second paragraph to dollars from pounds)
Feb 14 (Reuters) - Hikma Pharmaceuticals Plc said it expects a 23 percent growth in full-year revenue, up from its prior forecast of about 20 percent, benefiting from strong performance in its injectables and generics businesses towards the end of 2013.
The company, which has grown over the past year on the back of a shortage of doxycycline in the United States, also raised its full-year generics revenue forecast to $270 million as sales of the antibiotic continued to rise.
The drugmaker has raised its full-year revenue forecast four times this year and said in November that it expected revenue from its generics unit to be about $260 million.
However, Hikma said that it expects revenue from its generics business to be lower in 2014 due to increased competition in the U.S. doxycycline market.
Hikma said its global injectables business performed well, with revenue growth of about 14 percent.
"We are confident that our Injectables business will continue to deliver strong revenue growth and an adjusted operating margin above 30 percent in 2014," the company said in a statement.
Shares in the company closed at 1244 pence on Thursday on the London Stock Exchange. (Reporting by Abhirup Roy and Roshni Menon in Bangalore; Editing by Supriya Kurane)
- Malaysian airplane investigators look at suicide as possible motive |
- Planning could hold key to disappearance of Flight MH370 |
- U.S., EU set sanctions as Putin recognizes Crimea "sovereignty" |
- Magnitude 4.4 earthquake rocks Los Angeles area
- Russian government admits economy in crisis as Ukraine weighs