Hikma’s ‘core’ profitability exceeded expectations, driven by Injectables. However, the tough environment for Generics, and hyperinflation and adverse FX movements for Branded weighed on the overall performance. Nonetheless, all divisions are guided to aid 2023 improvements. Overall, the robust positioning in target markets and relatively lower leverage levels place Hikma in a good position to capitalise the optimistic outlook for biosimilars and generics, making it an attractive small pharma re ....
