Hikma Pharmaceuticals PLC

Latest Results (19.11.2025):

Hikma Pharmaceuticals PLC has provided its Q4 2025 update, confirming its 2025 guidance and demonstrating strong momentum in the second half of the year. The report outlines steady performance across its key business segments, robust product launches and partnerships, and a focused medium-term growth strategy despite some supply chain challenges.

Injectables

The global Injectables business is on track with 2025 revenue growth anticipated between 7% and 9% and core operating margins of 32% to 33%. Recent launches, including Starjemza® and the phased introduction of Tyzavan™, together with higher-margin contract manufacturing activities, underscore strong performance in Europe, MENA, and the US biosimilars arena.

Branded

The Branded segment continues to perform in line with expectations, driven by leading positions in the MENA region and robust contributions from its oncology portfolio. With treatments like Papillio and new launches, the segment is forecast to grow revenues by 6% to 7%, achieving a core EBIT margin close to 25% in 2025.

Hikma Rx

Hikma Rx maintained a strong footing with its baseline business, anticipating flat revenue for 2025 and a core operating margin of around 16%. An increased focus on R&D, particularly in more complex respiratory and nasal spray products, is expected to support long‑term growth in this segment.

Guidance & Outlook

The company reaffirmed its 2025 Group-wide guidance with an expected revenue growth of 4% to 6% and an updated core operating profit range of $730 million to $750 million. Additionally, the medium-term outlook indicates a Group-wide revenue CAGR of 6% to 8% from 2024 to 2027, although adjustments have been made to profit expectations due to evolving market conditions and supply chain challenges.

Organisational Changes & Investments

Hikma has centralized its R&D under a global structure led by Hafrun Fridriksdottir to accelerate pipeline development across key areas. Leadership changes in the Injectables segment—most notably the departure of Dr Bill Larkins and interim management by CEO Riad Mishlawi—complement ongoing investments in manufacturing capacity, including the expansion of the Columbus site and the future operational ramp-up of the Bedford facility.