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Hikma 2019 Revenue Up 7%; Signs US License Agreement With Glenmark For Ryaltris

Hikma Pharmaceuticals PLC (HIK,HIK.L) announced signing of an exclusive US license agreement with Glenmark Specialty S.A., a Swiss subsidiary of Glenmark Pharmaceuticals, to commercialise Ryaltris or olopatadine hydrochloride and mometasone furoate nasal spray.

Ryaltris is an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis.

Hikma will provide Glenmark with an upfront payment, regulatory approval and commercial milestone payments as well as royalties.

Hikma also announced results for 2019 with group revenue improving 7% to $2.207 billion. Group operating profit rose 33% to $493 million, while basic earnings per share rose 72% to 200.8 cents.

Group core revenue grew 6% to $2.203 billion, group core gross profit grew 7% to $1.144 billion. Group core operating profit rose 10% to $508 million.

Looking ahead, Hikma expects 2020 Injectables revenue to grow in the low to mid-single digits, Generics revenue to be in the range of $700 million to $750 million, Branded revenue to grow in the mid-single digits in constant currency.

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