Hikma Revenue Up 7%, Announces $250m Buyback

London, United Kingdom – 28 February 2026: Hikma Pharmaceuticals PLC reported audited results for the year ended 31 December 2025, posting revenue growth of 7% (6% in constant currency) to $3.349 billion, compared to $3.127 billion in 2024. Growth was recorded across all three key geographies: North America, MENA, and Europe.

The Group said performance was driven by strong momentum in its Branded and Hikma Rx businesses, alongside resilient margins. While its Injectables segment faced some challenges, management stated that corrective measures are underway and expressed confidence in the long-term outlook for the business.

Chief Executive Officer Said Darwazah said the company delivered revenue and profit growth in line with guidance and remains focused on achieving sustainable profit expansion. He also confirmed an increase of 5% in the total dividend and announced a $250 million share buyback programme to be executed during 2026, citing strong cash flow generation and balance sheet strength.

2026 Outlook

Hikma expects Group revenue to grow between 2% and 4% in 2026. The outlook assumes continued strong momentum in Branded and Hikma Rx, alongside increased investment in Injectables to strengthen long-term performance.

Share Buyback Programme

The Board approved a share buyback of up to $250 million during 2026. The company said the programme is structured to maintain balance sheet efficiency while preserving capacity for future investment opportunities.

Board and Leadership Changes

Several immediate leadership and Board changes were announced:

• Said Darwazah will step down as Executive Chairman to focus exclusively on his CEO role for the next two years.

• Victoria Hull has been appointed Chair of the Board.

• Douglas Hurt will assume the role of Senior Independent Director.

• Mazen Darwazah becomes Deputy CEO, MENA, overseeing all Group activities in the region, including MENA Injectables.

• Khalid Nabilsi has been appointed Deputy CEO, North America and Europe, overseeing operations in both regions. He steps down as CFO.

• A search has begun for a new Chief Financial Officer. Areb Kurdi will serve as Acting CFO during the transition.

• Hafrun Fridriksdottir will become President, US, while continuing to lead Hikma Rx and serving as Global Head of R&D.

The company said the changes are designed to enable greater agility and accountability in executing its strategy.

Segment Performance

Injectables

The Injectables business, which supplies generic injectable and specialty medicines to hospitals across North America, Europe and MENA, reported 7% core revenue growth to $1,423 million in 2025, compared to $1,324 million in 2024.

• North America: Sales increased 5%, supported by contributions from the Xellia acquisition and new product launches, despite competition on certain larger products.

• Europe and Rest of World: Sales grew 23%, with own-product growth of 30%, driven by portfolio expansion and the ability to address market shortages.

• MENA: Sales rose 9%, supported by a broad portfolio and strong performance in biosimilars.

Hikma launched 50 injectable products globally during the year, including 22 in the United States. The company now has 118 products in its pipeline, including 15 ready-to-use formulations. Injectables revenue is expected to grow in the low single digits in 2026.

Branded Business (MENA)

The Branded segment reported revenue growth of 10% (9% in constant currency), reaching $849 million compared to $769 million in 2024.

Growth was supported by oncology and chronic disease treatments, including strong demand for palbociclib and dapagliflozin. The company also highlighted its leadership in multiple sclerosis treatments in the region and continued portfolio expansion through partnerships, including additional biosimilars with Celltrion.

Hikma signed 14 deals in MENA during 2025, bringing the total to 43 deals with 29 partners since 2023. The company said it became the largest pharmaceutical company by sales in MENA in 2025, up from second position in 2024.

Branded revenue is expected to grow between 6% and 8% in 2026.

Hikma Rx (North America)

Hikma Rx reported revenue of $1,037 million compared to $1,026 million in 2024, reflecting 1% reported growth. Core revenue was flat due to expected price erosion in the base portfolio, offset by strong performance in key products.

Notable contributors included generic Advair Diskus®, fluticasone nasal spray, albuterol, and lisdexamfetamine. The company submitted nine new filings during the year and continues to expand its respiratory and nasal pipeline.

Contract manufacturing remains a key part of the segment, with revenues expected to begin in 2026 from a significant new contract at the Columbus site, and full commercial production anticipated in 2027.

Market Position

During 2025, Hikma became the largest pharmaceutical company by sales in MENA, the seventh largest supplier of generic medicines in the US, and the third largest supplier of generic injectable products by volume in the US. Europe was identified as its highest growth region, with a strong position in several critical medicines across major markets.