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Prices & Quotes - UK Markets - Hikma Pharmaceuticals (HIK)

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Share Price:
Up 2,547.00p
Change Today:
3.00p
Market Cap:
5,871m
Sector:
Pharmaceuticals & Biotechnology

Hikma raises sales guidance as profits rise on Covid-related demand

By Frank Prenesti

Date: Friday 07 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Hikma Pharmaceuticals lifted sales guidance for its injectables business on the back of higher demand for key medicines during the coronavirus pandemic as it reported a rise in interim profits.
The company said it expected 2020 revenue from the injectables business, the firm's largest unit, to be in a range of $950m - $980m, compared with previous forecasts of growth in low to mid-single digits as demand soared for its products to treat coronavirus patients in the US and Europe.

Pre-tax profit rose to $274m from $226m year on year for the six months to June 30on an 8% rise in revenue to $1.2bn. Its core operating profit rose 15% year-on-year to $284m and the interim dividend was increased by 2 cents to 16 cents per share.

Revenue at the injectables business grew 13% to $485m. Hikma also raised the revenue outlook for its generics division to $720m - $760m, from $700m - $750m.

Hikma supplies the steroidal drug dexamethasone which has been touted as a possible new treatment for Covid-19.

The company said it had not seen any hit to its supply chain from the pandemic and that its manufacturing sites had remained open.

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HIK Market Data

Currency UK Pounds
Price 2,547.00p
Change Today 3.00p
52 Week High 2,695.00p
52 Week Low 1,701.50p
Volume 391,360
Shares Issued 230.50m
Market Cap 5,871m

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What The Brokers Say

Strong Buy 7
Buy 1
Neutral 3
Sell 2
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HIK Dividends

  Latest Previous
  Interim Final
Ex-Div 20-Aug-20 19-Mar-20
Paid 21-Sep-20 07-May-20
Amount 16.00¢ 30.00¢

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 192,311 @ 2,547.00p
16:29 40 @ 2,550.00p
16:29 65 @ 2,550.00p
16:29 56 @ 2,550.00p
16:29 100 @ 2,550.00p

HIK Key Personnel

CEO Sigurdur Olafsson