Hikma Pharmaceuticals PLC (LSE:HIK) has maintained its full-year 2026 revenue growth guidance of 2% to 4% while narrowing its expected group operating profit range to $740 million to $760 million, compared with its previous forecast of $720 million to $770 million.
The pharmaceutical group said year-to-date trading remained in line with management expectations, with an upgraded outlook for its Branded division offsetting a reduction in expected revenue growth from Injectables.
Branded Revenue Growth Forecast Raised to 10%
Hikma increased its full-year revenue growth forecast for the Branded division to approximately 10%, compared with its previous guidance of 6% to 8%.
The company also raised its expected core operating margin to nearly 27%, from approximately 25%, reflecting its product mix and trading performance.
Hikma reported continued demand across its Middle East and North Africa markets, supported by new product launches and partnerships focused on cardiovascular, diabetes and central nervous system treatments.
The company has also increased investment in sales and marketing during the second half of 2026.
Injectables Revenue Outlook Reduced to Flat Growth
Hikma now expects Injectables revenue to remain broadly unchanged in 2026, compared with its previous forecast of low-single-digit growth.
The division’s core operating margin guidance remains between 27% and 28%.
In the United States, demand for existing products and increasing Tyzavan sales have largely offset pricing pressures.
European and Canadian operations reported continued demand, although revenue was affected by an anticipated reduction in contract manufacturing activity.
In the Middle East and North Africa, demand for biosimilars, oncology products and new launches helped offset supply chain disruptions linked to manufacturing difficulties at an in-licensing partner.
Hikma said it continues to invest in commercial operations, research and development, and additional product partnerships.
Hikma Rx Maintains Revenue and Margin Expectations
Hikma reiterated its expectation for broadly flat revenue in its Hikma Rx business, with a core operating margin of approximately 20%.
The division reported continued demand for sodium oxybate and revenue contributions from preparations for a contract manufacturing agreement approaching commercial production.
Hikma expects production volumes under the agreement to increase gradually during 2027, depending on demand for its partner’s product.
The business has launched eight products so far in 2026 and anticipates further introductions before year-end and during 2027.
In September, the US Food and Drug Administration accepted Hikma’s filing for an epinephrine nasal spray. The company has also submitted applications in other markets and expects to provide regulatory updates in 2027.
Share Buyback Completed and CFO Appointment Confirmed
Hikma completed its $250 million share repurchase programme on 28 August 2026, purchasing 13,138,823 shares.
The company reported issued share capital of 208,747,630 ordinary shares carrying voting rights.
Hikma also confirmed that Becky Hall, appointed CFO designate in September, will join the company on 8 March 2027.
Full-Year 2026 Guidance Reaffirmed
Hikma maintained its forecast for group revenue growth of 2% to 4% and narrowed its operating profit expectations to $740 million to $760 million.
The company said it continues to monitor geopolitical developments in the Middle East, including Saudi Arabia, while managing inflationary pressures and maintaining pharmaceutical supply operations.
More About Hikma Pharmaceuticals
Hikma Pharmaceuticals PLC (LSE:HIK) is a multinational pharmaceutical company operating across Branded, Injectables and Hikma Rx businesses. The group develops, manufactures and markets medicines across the Middle East and North Africa, the United States, Europe and Canada.
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