Financial highlights
Following an exceptionally strong year in 2014, Group revenue was $1,440 million, down 3%, or up 2% in constant currency
Group gross margin was in line with 2014 at 56.8%, reflecting good cost control across all business segments
Core operating profit was $409 million, down 4%, or up 4% in constant currency, with strong profitability in Injectables and Branded offsetting expected declines in Generics
Strong net operating cash flow of $366 million, despite a lower contribution from specific market opportunities in the Generics business
Group profit attributable to shareholders was $252 million, down 9%, or up 2% in constant currency
Proposed final dividend of 21 cents per share (32 cents per share for the full year), in line with the total dividend paid in 2014
2016 Group revenue expected to be in the range of $2.0 billion to $2.1 billion in constant currency, reflecting strong growth across all three business segments and the consolidation of ten months of revenue from Roxane
Strategic highlights
Successful execution of the Group's growth strategy across all three business segments
Launched 92 products and received 220 approvals, expanding and enhancing our global product portfolio
Swift integration of Bedford, delivering new high value products for US Injectables, including three new product launches; on track to achieve target of 20 launches by 2017
Transformational acquisition of Roxane brings significant scale and growth opportunities to the US business, adding a broad portfolio and large, differentiated pipeline
Acquisition of EUP strengthens our capabilities in oncology and injectables in Egypt
Balance sheet strengthened through inaugural bond issue, raising $500 million, and new $1.2 billion revolving credit facility, providing financial flexibility to support future growth
