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Hikma Hikes Generics Guidance As It Prepares For New CEO

Also Picks Up US Injectables Assets From Akorn In The Wake Of Bankruptcy

 
• By Dave Wallace

After a tough 2022 for its generics business, Hikma is predicting big things for the division this year, raising its full-year guidance from 20% growth to nearly 30% as new CEO Riad Mishlawi prepares to take the reins from the start of September. Meanwhile, the firm has also picked up assets from Akorn following its collapse.

Businessman drawing graph upwards
Hikma is improving its expectations for its generics business • Source: Shutterstock

Having already set out expectations earlier this year that its generics business would grow by 20% in 2023, Hikma has now gone even further by raising its annual guidance to nearly 30% growth for the generics segment.

The prediction follows a tough 2022 that saw an 18% turnover decline in Hikma’s generics business, offset by growth in its injectables and branded divisions (see sidebar). The company even publicly mulled the possibility of exiting the business altogether, before later reasserting its commitment to the sector

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