Earnings release
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Hikma confirms full year 2026 Group guidance London, 5 November 2026 – Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group,today provides an update on current trading. Said Darwazah, Hikma’s CEO, said: “We are seeing strong momentum at Hikma, delivering on the commitments we made at the beginning of the year. The Group’s performance year-to-date is in line with our expectations, reflecting the strength of our diversifiedbusiness. Branded is outperforming, profitability in Hikma Rx is improving, and Injectables is stabilising, wellpositioned for future growth. We have expanded our portfolio and pipeline through new launches and an increasedinvestment in R&D. Reflecting this performance and our expectations for trading as we close the year, we arepleased to narrow our expected Group operating profit range to $740 million to $760 million.” Branded Our Branded business continues to perform very well, with strong demand across our markets. As the largestpharmaceutical company by sales in the MENA region, we are committed to ensuring continuity of supply for ourpatients and customers. This year we have expanded our portfolio through new launches and partnerships, with aparticular focus on cardiovascular, diabetes and CNS medications. As expected, we have stepped up our investmentin sales and marketing in the second half, including hosting flagship conferences such as the Hikma CancerNetwork. Reflecting the strength of performance thus far in 2026, we are upgrading our expectations and now expect Brandedrevenue to grow by around 10% in 2026 (up from previous guidance of 6% to 8%). Even with the increasedinvestment we are making in sales and marketing in the second half, we now expect core operating margin of closeto 27% (up from around 25%), reflecting the excellent performance and strong product mix. Injectables We have invested significantly in our global Injectables business this year, strengthening its foundation for futuregrowth. We have focused on building our commercial capabilities, streamlining our operations and enhancing ourR&D pipeline. To complement our in-house R&D, our business development team has signed multiple deals in theyear to date, expanding our pipeline of complex products and new technologies. In the US, good demand for our base business and gradual progress in Tyzavan® sales are mostly offsetting price erosion. We are performing well in Europe and Canada, where we are seeing good demand across our markets, gainingmarket share and responding to critical shortages, all of which is offsetting the expected decline in contractmanufacturing. These efforts are strengthening Hikma’s position as a trusted partner, enhancing supply reliability,and improving access to essential medicines. In MENA, we are also seeing good demand, benefitting from our extensive biosimilar and oncology portfolio and thesuccessful launch of new products, including a first-to-market opportunity. This is offsetting the impact of supply chain disruptions experienced earlier in the year relating to the manufacturing challenges of one of our in-licensing partners. We now expect Injectables revenue to be broadly flat in 2026, compared with our previous expectation of low singledigit growth. We continue to expect core operating margin in the range of 27% to 28%. Hikma Rx Hikma Rx is performing well with a significant improvement in profitability. Demand for sodium oxybate has remainedstrong and our contract manufacturing business continues to generate good revenue from the preparation phase ofa key contract, which is moving towards commercial production. Going forward, the scale of the contribution fromthis contract will depend on demand for our partner’s product, which we expect will gradually ramp up over thecourse of 2027. Our focus on the cadence of new launches for Hikma Rx has resulted in eight new products in the year to date. OurR&D pipeline is improving and we expect further launches before year end and into 2027, which will help to offset anincrease in competition on our base business. In September, we announced that the US filing for our epinephrine nasal spray had been accepted by the US FDA.We have also filed the product in multiple other markets and will provide an update on the outcome of these filings in2027. We continue to expect Hikma Rx revenue to be broadly flat in 2026, with core operating margin of close to 20%.
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Global geopolitical environment We closely monitor geopolitical developments in the Middle East, including in Saudi Arabia. Regional demandremains robust, and the Group’s supply chain is well positioned. We are absorbing inflationary pressures whilemaintaining our focus on continuity of supply. Leadership We announced the appointment of Becky Hall as CFO designate in September and can now confirm that Becky willjoin Hikma on 8 March 2027. Share buyback We announced on 28 August 2026 the completion of the $250 million share repurchase programme as announcedon 26 February 2026. Hikma purchased a total of 13,138,823 shares and currently has issued share capital of208,747,630 Ordinary Shares of 10 pence each with voting rights. Group full year outlook We are reiterating our outlook for 2026 Group revenue to grow in the range of 2% to 4% and we are narrowing ourexpected Group operating profit range to $740 million to $760 million, from the previous range of $720 million to$770 million. Further information Hikma will hold a live Q&A webinar at 9:30am GMT. A recording and transcript will be made available on theCompany’s website. To join the webinar, please register using the following link:https://sparklive.lseg.com/HikmaPharmaceuticals/events/9c9bd04b-54ef-4f19-a2bb-4242e829e9c6/hikma-november-2026-trading-update -- ENDS -- Enquiries: Hikma (Investors) Susan RingdalEVP, Strategic Planning and Global Affairs+44 (0)20 7399 2760/ +44 (0)7776 477050 Guy FeatherstoneSr. Director, Global InvestorRelations +44 (0)20 3892 4389/ +44 (0)7795 896738 Veronica FarahAssociate, Investor Relations +44 (0) 7795 911385 FTI Consulting (Media) Ciara Martin +44 (0)7779 775979 About Hikma Hikma helps put better health within reach every day for millions of people around the world. For more than 45years, we've been creating high-quality medicines and making them accessible to the people who need them.Headquartered in the UK, we are a global company with a local presence across North America, the Middle Eastand North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edgescience into innovative solutions that transform people's lives. We're committed to our customers, and the peoplethey care for, and by thinking creatively and acting practically, we provide them with a broad range of branded andnon-branded generic medicines. Together, our 9,400 colleagues are helping to shape a healthier world that enrichesall our communities. We are a leading licensing partner, and through our venture capital arm, are helping bringinnovative health technologies to people around the world. For more information, please visit: www.hikma.com Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:549300BNS685UXH4JI75)(rated BBB/stable S&P, BBB/stable Fitch) Forward-looking statements Hikma cautions shareholders that any forward-looking statements or projections made by Hikma, including thosemade in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially
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from those projected. Such factors include, but are not limited to, those risk factors described in the “Principal risksand uncertainties” section in Hikma’s latest Annual Report. Where included, such statements have been made by oron behalf of Hikma in good faith based upon the knowledge and information available to the Directors on the date ofthis announcement. Accordingly, no assurance can be given that any particular expectation will be met and Hikma'sshareholders are cautioned not to place undue reliance on any forward-looking statements. Other than inaccordance with its legal or regulatory obligations (including under the UK Market Abuse Regulation and the UKListing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), Hikma doesnot undertake to update any forward-looking statements contained in this announcement to reflect any changes inevents, conditions or circumstances on which any such statement is based or to correct any inaccuracies which maybecome apparent in any such forward-looking statements.
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