Hikma boosts full-year revenue forecast at its top two divisions

Hikma’s operating profit rose 54 percent in the six months ended June 30. (Reuters)
Updated 15 August 2018
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Hikma boosts full-year revenue forecast at its top two divisions

BENGALURU: London-listed Jordanian group Hikma Pharmaceuticals raised the full-year revenue forecast at its top two businesses, as it sold more injectable opioids in the US amid a supply shortage, and had a better-than-expected performance in generics.
The Middle East focused drugmaker, however, said on Wednesday that it does not expect the same demand for some of its injectable products to continue into 2019.
The company’s operating profit rose 54 percent in the six months ended June 30, while revenue rose 11 percent.


Vietnam and India agree to boost trade, defense cooperation

Updated 26 min 48 sec ago
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Vietnam and India agree to boost trade, defense cooperation

  • Currently, India has 182 investment projects worth $816 million in Vietnam
  • Vietnamese businesses have a mere seven projects worth some $6 million in India

HANOI, Vietnam: Vietnam and India have agreed to boost their trade while expanding their cooperation in defense and security, among other areas.
Speaking to reporters at a joint press briefing in Vietnam’s capital, Hanoi, Indian President Ram Nath Kovind said Tuesday that he believes the bilateral trade volume will reach $15 billion by 2020, up from $12.8 billion last year.
“We agreed to encourage our industry to tap into the growing economic opportunities in our own countries and in the region,” Kovind said. “India-Vietnam economic relations are on an upswing.”
“We committed to further deepen our defense and security cooperation. I reiterated India’s commitment to provide training support for Vietnam’s armed forces,” he added.
Kovind said he and Vietnamese President Nguyen Phu Trong also reviewed the implementation of an Indian credit line of $100 million to build high-speed patrol vessels for Vietnam’s coast guard.
Trong, who is also head of the Communist Party, said the two countries will find ways to boost their modest investment.
Currently, India has 182 investment projects worth $816 million in Vietnam, while Vietnamese businesses have a mere seven projects worth some $6 million in India.
Kovind is on a three-day visit to Vietnam, where he is scheduled to meet with Prime Minister Nguyen Xuan Phuc later Tuesday before departing.