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Hikma full-year profit doubles on strong doxycycline sales
March 12, 2014 / 7:35 AM / 4 years ago

Hikma full-year profit doubles on strong doxycycline sales

March 12 (Reuters) - Hikma Pharmaceuticals Plc’s full-year profit more than doubled helped by strong demand and higher prices for the antibiotic doxycycline that is used in the treatment bacterial infections including Lyme disease.

The company, which makes and markets branded and non-branded generics and injectibles, reported an adjusted profit attributable to shareholders of $274 million compared with $120 million a year earlier.

Revenue for the year ended Dec. 31 rose 23 percent to $1.37 billion, in line with the company’s estimate last month.

Hikma, which has grown over the past year due to a shortage of doxycycline in the United States, said generics revenue rose 158 percent to $268 million for the year.

Shares in the Jordanian company closed at 1473 pence on Tuesday on the London Stock Exchange.

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