Hikma delivers a solid H1 performance and reiterates full year outlook
London, 6 August 2026 – Hikma Pharmaceuticals PLC (‘Hikma’ or ‘Group’), the multinational pharmaceutical company, today reports its Interim Results for the six months ended 30 June 2026.
Said Darwazah, Chief Executive Officer of Hikma, said:
"I am pleased to report a solid first half with performance in line with our expectations, including 9% growth in core operating profit, and I am encouraged by the positive momentum we are seeing across the organisation.
We have made good progress against our strategic priorities in the first half of 2026, launching new products, strengthening our pipeline, signing new partnerships and optimising our manufacturing operations – all initiatives that will support long-term growth.
We are building greater agility across the Group – directing capital and management attention to the areas where we have sustainable competitive advantage and where we can respond quickly to changing market dynamics, while maintaining the stability and quality that underpin our business.
With strong fundamentals, disciplined execution and clear strategic priorities, we remain confident in our outlook and are reiterating our full-year guidance."
Group H1 Financial Highlights
|
Reported results $ million |
H1 2026 |
H1 2025 |
Change |
Constant currency[1] |
|
Revenue |
1,728 |
1,658 |
4% |
3% |
|
Operating profit |
336 |
259 |
30% |
28% |
|
Profit attributable to shareholders |
223 |
238 |
(6%) |
(7%) |
|
Cashflow from operating activities |
214 |
161 |
33% |
- |
|
Basic earnings per share (cents) |
103 |
108 |
(5%) |
(5%) |
|
Interim dividend per share (cents) |
38 |
36 |
6% |
- |
|
Core results[2] $ million |
H1 2026 |
H1 2025 |
Change |
Constant currency[2] |
|
Core revenue |
1,728 |
1,657 |
4% |
4% |
|
Core operating profit |
405 |
373 |
9% |
8% |
|
Core EBITDA[3] |
463 |
429 |
8% |
7% |
|
Core profit attributable to shareholders |
277 |
270 |
3% |
3% |
|
Core basic earnings per share (cents) |
128 |
122 |
5% |
5% |
H1 FINANCIAL HIGHLIGHTS
- Group revenue of $1,728 million, up 4%
- Branded revenue of $502 million, up 15%
- Injectables revenue of $685 million, in line with H1 2025
- Hikma Rx revenue of $520 million, in line with H1 2025
- Group core operating profit of $405 million, up 9%
- Branded core operating profit up 23% (20% in constant currency), with core operating margin of 32.5%
- Injectables core operating profit down 8% (down 9% in constant currency) and core operating margin of 27.6%
- Hikma Rx core operating profit up 16% with 20.6% core operating margin
- Reported Group operating profit up 30%, primarily due to a lower comparator in H1 2025, which was impacted by the non-core legal settlement related to sodium oxybate
- Robust balance sheet, cashflow and dividend growth
- Cashflow from operating activities of $214 million (H1 2025: $161 million)
- Net debt[4] to core EBITDA[5]
of 1.9x at 30 June 2026 (31 December 2025: 1.6x) - Interim dividend of 38 cents per share, up 6%
- $250 million share buyback progressing well with $227 million worth of shares purchased as at 5 August 2026
STRATEGIC PROGRESS
- Increasing investment to support growth
- 18% increase in R&D spend, with 48 product submissions, as we strengthen our global pipeline to support long-term growth
- 10% increase in Injectables sales and marketing spend, with a focus on improving our US commercial platform
- Broadening our product portfolio through new launches and partnerships
- Strong cadence of launches, with 43 product launches in the first half
- Ongoing focus on strategic partnerships, including ten partnerships agreed in the MENA region
- Optimising the business and enhancing employee engagement
- Building a more resilient supply chain through improved processes, stronger inventory policies and new tools in order to enable higher customer service levels
- Greater collaboration across teams and deepening employee engagement to enhance performance and strengthen corporate culture
- Board appointment
- Appointment of Tobias Hestler as independent Non-Executive Director as of 7 August 2026
FULL YEAR OUTLOOK REITERATED
- 2026 Group revenue growth of 2% to 4% (in constant currency)
- 2026 Group core operating profit of $720 million to $770 million
Further information:
A pre-recorded presentation will be available at www.hikma.com at 07:00 BST. Hikma will also hold a live Q&A conference call at 09:30am BST, and a recording will be made available on the Company’s website.
To join the webinar, please register via the following link:
For further information please contact Veronica Farah (vfarah@hikma.com) or Deepa Jadeja (djadeja@hikma.com).
Hikma (Investors):
Susan Ringdal
EVP, Strategic Planning and Global Affairs
+44 (0)20 7399 2760/ +44 (0)7776 477050
Guy Featherstone
Sr Director, Global Investor Relations
+44 (0)20 3892 4389/ +44 (0)7795 896738
Veronica Farah
Associate, Investor Relations
+ 44 (0) 7795 911385
FTI (Press):
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 45 years, 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 East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 9,500 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative 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 and BBB/stable Fitch)
[1] Constant currency numbers in H1 2026 represent reported H1 2026 numbers translated using H1 2025 exchange rates, excluding price increases in the business resulting from the devaluation of currencies.
[2] Core results throughout the document are presented to show the underlying performance of the Group, excluding exceptional items and other adjustments set out in Note 5. Core results are a non-IFRS measure.
[3] Core EBITDA is core operating profit before depreciation and software amortisation.
[4] Group net debt is calculated as Group total debt less Group total cash. Group net debt is a non-IFRS measure that includes long and short-term financial debts (Note 12), lease liabilities, net of cash and cash equivalents. See page 15 for a reconciliation of Group net debt to reported IFRS figures.
[5] For the purposes of the leverage calculation, core EBITDA is calculated for trailing twelve months ended 30 June 2026. See page 14 for a reconciliation to reported IFRS results and core EBITDA.