Half Year 2024 Hikma Pharmaceuticals PLC Earnings Call Transcript
Key Points
- Revenue increased by 10% in H1, with strong performance across all business segments.
- Launched 59 new products and strengthened the pipeline with over 300 products.
- Strategic acquisitions, including Xellia, are expected to bolster medium and long-term growth.
- Expanded presence in Europe, particularly in the UK and Spain, showing strong demand.
- Upgraded revenue guidance for the year, with expected growth in the range of 6% to 8%.
- Low CMO revenue in the first half due to timing issues.
- Increased competition in the generics market expected in the second half.
- Higher R&D costs anticipated in the second half, impacting margins.
- Revenue and operating profit are heavily weighted towards the first half, creating potential volatility.
- Challenges in the US compounding business, requiring a slow and cautious growth approach.
Okay, good morning, everyone. It's always great to sit in front of you when we have good results. It makes the day much more pleasing. Anyways, I just wanted to go over some, maybe, overall messages. We had, as you all know, we had an excellent performance in H1. Revenue was increased by about 10%, with the three businesses performing well, underpinned by our strong commercial and operational capabilities.
We continued to invest in the businesses and deliver on our corporate strategy. In the first half, we had grown our portfolio, launching 59 products across our businesses, and continued to strengthen our pipeline with more than 300 products currently in the pipeline.
We further strengthened our leadership team. As you know, we had some additions, we had some shuffling around and some changes in responsibilities. We announced strategic acquisitions of Xellia products. The Xellia acquisition included products, manufacturing facility and R&D assets. Of course, as you know, we're still waiting for
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