Hikma Pharmaceuticals PLC

HIK

Equity

ISIN GB00B0LCW083 / Valor 2324471

LSE London Stock Exchange, SETS (2026-06-04)

GBP 14.60+3.11%

Hikma Pharmaceuticals PLC
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About company

Hikma Pharmaceuticals PLC is a London‑listed pharmaceutical company, founded in Jordan and headquartered in London, that develops, manufactures and commercialises a broad range of branded and generic medicines across the United States, the Middle East & North Africa and Europe. Its core operations cover three main areas—injectable medicines (including sterile hospital injectables), generic oral medicines and branded generics for regional markets—supplied through its own manufacturing sites and commercial networks to hospitals, wholesalers and retail pharmacies. The company combines in‑house development and manufacturing with licensing and partnerships to bring off‑patent and complex generic products to market, with a particular emphasis on injectable and hospital-use therapies.

Summarized from source with an LLMView SourceSector: Healthcare

Key financials

FY2025 core revenue $3,349m (+6% constant currency), reported revenue $3,349m (+7%); core operating profit $741m (margin 22.1%), reported operating profit $542m (margin 16.2%); core profit attributable $503m, reported profit attributable $402m; core EPS 228c, reported EPS 182c.

Cash flow, dividend & buyback

Operating cash flow $436m (2024: $564m) — excluding $186m of one‑off legal payments cash flow rose ~10%; total dividend 84 cents/share (up 5%) and a new $250m share buyback to be executed in 2026.

Balance sheet & credit

Net debt $1,387m at 31 Dec 2025; net debt to core EBITDA 1.6x (31 Dec 2024: 1.4x); Group upgraded to BBB (stable) by S&P and Fitch; capital expenditure $197m in 2025 with 2026 guidance $190–210m.

Segment performance — Injectables

Injectables core revenue $1,423m (+7% core, +9% reported); core operating profit down 6% to $441m and margin compressed to 31.0% (2024: 35.3%) due to product/geographic mix, more outsourced/CMO volumes and inventory provisions.

Segment performance — Branded

Branded core revenue $849m (+10%); core operating profit +19% with margin improving to 26.4%, driven by oncology and diabetes launches and strong MENA market share gains.

Segment performance — Hikma Rx

Hikma Rx core revenue $1,037m (broadly flat); core operating profit +5% with margin of 17.3% as higher-value, complex products offset usual price erosion and competitive pressures.

One‑off legal impact

Reported results were materially affected by legal settlements (notably sodium oxybate) and related adjustments: $72m of legal settlement items in the reported vs core reconciliation and $186m cash impact (of which $111m was restricted cash at 31 Dec 2025 and paid Jan 2026).

Leadership changes

Said Darwazah will focus solely on the CEO role and step down as Executive Chair; Victoria Hull appointed Chair and Douglas Hurt becomes SID. Two Deputy CEO roles created (MENA; North America & Europe); CFO search underway and Areb Kurdi is Acting CFO.

2026 outlook

Group revenue guidance +2% to +4% (constant currency); Group core operating profit guidance $720–770m. Segment guidance: Injectables low single‑digit revenue growth with 27–28% margin; Branded +6–8% revenue with ~25% margin; Hikma Rx broadly flat with ~20% margin.

R&D, launches & strategic progress

84 product launches in 2025, 99 approvals and 139 filings; strategic milestones include US launch of Tyzavan® and first US biosimilar (ustekinumab). Pipeline of 118 projects (15 ready‑to‑use formulations) and Bedford manufacturing ramp expected to generate commercial revenues from 2028.

Summarized from source with an LLMView Source

Key figures

-30.5%1Y

-19.0%3Y

-39.4%5Y

Performance

34.4%1Y

27.6%3Y

28.3%5Y

Volatility