UK's Hikma tightens annual profit outlook as branded medicines drive growth

Nov 5 (Reuters) - Britain's Hikma Pharmaceuticals HIK.L on Thursday narrowed its annual profit forecast range closer to the higher end as strong demand in its branded business across in the Middle East and North Africa offset pressure in the injectables division.

• The drugmaker now expects its full-year operating profit of $740 million to $760 million, compared to the previous forecast of $720 million to $770 million

• Hikma reiterated its overall annual revenue growth target of 2% to 4%

• Revenue from its self-branded business is set to grow by around 10% in 2026

• The company also said demand across the Middle East and North Africa has remained robust, with its supply chain remaining well positioned to ensure continuity of supply

• Hikma said its injectables business is stabilising but expects the segment's revenue to be broadly flat in 2026

• CEO Said Darwazah has sought to reassure investors that his turnaround of the company is on track, as incoming finance chief Rebecca Hall is also set to join Hikma in March