LONDON (ShareCast) - (Sharecast News) - Drugmaker Hikma Pharmaceuticals lowered its medium-term margin expectations for its injectables division on Thursday, as part of its third-quarter trading update.
Hikma now expects injectables margins to settle around 30%, down from a previous range in the mid-30s. It also cut its medium-term group revenue growth forecast to the lower end of its 6% to 8% range, with EBIT growth now seen at 5% to 7%, down from 7% to 9%.

"This reflects a change in our expectations for the commencement of commercial production at our new Bedford manufacturing facility, partially related to global supply chain challenges," said Hikma.

Full-year revenue guidance was reaffirmed, with growth still expected between 4% and 6%, while core operating profit guidance was narrowed to $730m-$750m, from $730m-$770m, aligning closely with consensus estimates.

Hikma left its current-year guidance for injectables unchanged, easing concerns over near-term performance.

The FTSE 100-listed firm added that its Bedford site was now expected to be fully operational by late 2027, with revenues ramping up in 2028.

Hikma also announced a restructuring of its R&D operations, centralising under a global structure to accelerate pipeline development and improve coordination. Group CEO Riad Mishlawi has stepped in as interim head of the injectables division following the departure of the unit's CEO, Bill Larkins.

As of 0935 GMT, Hikma shares had slumped 10.56% to 1,584p.



Reporting by Iain Gilbert at Sharecast.com

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