Hikma Sees Signs Of A Bounceback For Generics
Now Forecasting Generics Sales Growth Of 20% In 2023, After Taking An 18% Hit In 2022
After a tough 2022 that saw Hikma suffer an 18% drop in generics sales – albeit mostly offset by growth in the firm’s injectables and branded divisions – the company has announced fresh forecasts for 2023 that suggest the generics segment will bounce back with growth of a fifth.
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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.
Hikma says all options are on the table for its beleaguered generics business, with an immediate sale unlikely but the door open for a longer-term exit strategy. Meanwhile, the firm has also offered an update on recruitment for a new CEO.
Hikma has begun 2023 with the long-awaited launch of a US authorized generic version of Xyrem (sodium oxybate). Meanwhile, the company has also struck a deal with Junshi Biosciences for toripalimab in the MENA region.