Shares in Hikma Pharmaceuticals had rallied strongly ahead of its first-half results yesterday and the drug company duly rewarded recovering investor optimism with a set of forecast-beating numbers.
The London-listed drug maker posted encouraging performances in its main generics and injectables division, prompting it to raise its full-year forecasts.
Group revenue was up 10 per cent to $989 million at constant currencies in the six months to the end of June, leaving pre-tax profit at $141 million compared with $100 million at the same time last year.
The results soothed investors who had nursed a slump in the shares over the past two years since peaking at almost £27 in August 2016.
Hikma, founded in Jordan in 1978, spans more than 50 countries and sells