Hikma Pharma Q1 revenue rises

Hikma Pharmaceuticals, a manufacturer of a range of both branded and non-branded generic and inlicensed products, reported revenue of $394.76m for the first quarter ended 30 June 2011, compared to $357.69m for the same period in 2010. The company has earned gross profit of $172.62m, compared to gross profit of $178.51m, for the same period last year.Hikma’s operating profit for the first quarter ended 30 June 2011 was $49.05m, as compared to $74.28m for the same periof prior year.Hikma CEO Darwazah said they continue to leverage FDA approved operations in the MENA region to maximize the potential of US product portfolio.”We continue to expect a strong performance in the second half of the year and believe the Group remains well positioned for 2011 and beyond,” Darwazah said.