S&P upgrades Hikma Pharmaceuticals PLC and its Senior Notes to ‘BBB' on continued good business momentum; outlook stable
Amman – S&P has announced on 8 May that it has raised its long-term issuer credit rating on Hikma Pharmaceuticals PLC (Hikma, Company) and its $500 million notes outstanding due July 9, 2025, issued out of Hikma Finance USA LLC, to 'BBB' from 'BBB-' with a stable outlook. S&P said its rating action reflects Hikma's good business momentum and ability to maintain healthy growth prospects and stable credit metrics.
Khalid Nabilsi, CFO of Hikma said: 'I am pleased that S&P have upgraded Hikma, strengthening our investment grade rating and confirming our solid market position as well as our track record of profitability and cash generation.'
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, 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 are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
UAE Restaurant Group and IMAGES RetailME return with the second edition of sector-shaping forums
Offering a blend of conferences led by key voices, exhibitions, networking sessions, and awards, the forums will explore today's most pressing challenges and emerging opportunities across the sector Dubai, UAE: As two of the region's leading forces shaping the future of the food and retail industries, the UAE Restaurant Group (UAERG) and IMAGES RetailME will come together to host another edition of their insightful forums. UAERG, the official representative body of the UAE's food and beverage sector, will present the Food Service Forum with a focus on the HoReCa ecosystem, while IMAGES RetailME, the region's premier retail business intelligence platform, will lead the Food Business Forum, spotlighting the food and grocery retail market. Set to take place on June 19th at JW Marriott Marina, both concurrent events will feature keynote speeches, panel discussions, and networking opportunities, concluding with a UAERG Partners Felicitation Ceremony. UAERG Food Service Forum In recent years, MENA has experienced a surge of fine-dining restaurants, cafés, bars, international fast-food chains, and homegrown culinary concepts, catering to the region's evolving palate and growing appetite for unique dining experiences. Helping participants tap into the local market's immense potential, the UAERG Food Service Forum will feature a series of impactful roundtables, exhibition areas, and networking sessions, as well as the chance to meet the region's most powerful food service professionals. To set the tone for the forums, Amit Nayak, Vice Chairman of UAE Restaurant Group and Vice President of HAMA MEA, and Amitabh Taneja, Editor-in-Chief at IMAGES Retail, will deliver an introductory speech. After, participants can dive into the discussions, starting at 10.20am with an inaugural session exploring the balance between ultra-fast delivery models and food quality, featuring Jaskaran Singh, Vice President of Product at Careem. Later at 2.00pm, a session on experiential dining will examine whether premium restaurant concepts and entertainment hybrids are worth the investment for shopping centres, with key insights from Jitin Joshi, Chef and Culinary Leader at Revolver (Culinary Arts Group), and Fay Economides, Executive Managing Director at M Management Company. Other highlights include an expert-led discussion on transforming café brands into lifestyle icons with various industry leaders sharing their experiences, including Duncan Muir, Senior Director of F&B and Retail at Bateel. The food service forum will also explore AI integration in the kitchen, with a panel featuring Sheikha Al Mheiri, Owner of MAD Hospitality, and Tapan Vaidya, Treasurer at UAERG and CEO of PJP Investments Group. Finally, Naved Nasir, Founder of Khadak, will join fellow industry trailblazers to share the ingredients for long-term success. Through meaningful events like the Food Service Forum, UAERG aims to provide a platform for dialogue and collaboration, helping shape the future of the UAE's dynamic F&B scene. In line with this role, the group is led by four key committees: the Education & Innovation Committee, headed by Board Member Walid Fakih, which keeps members informed on trends and tech, and the Membership Engagement & Events Committee, led by Treasurer Tapan Vaidya, aimed at fostering connection and knowledge-sharing. Meanwhile, Vice Chairman Amit Nayak leads both the Sustainability Committee and the Government Relations & Advocacy Committee, which ensures their voices are heard in policy and regulatory matters. Amit Nayak, Vice Chairman of UAE Restaurant Group and Vice President of HAMA MEA, shared, 'The second edition of UAERG Food Service Forum and IMAGES RetailME Food Business Forum comes at a crucial turning point. Several factors, including lifestyle changes, sustainability, and technology, are completely transforming how diners engage with concepts. Through events like this, we hope to contribute to the greater success of the UAE's food service industry, sharing expert insights and practices that will help businesses of all sizes thrive.' IMAGES RetailME Food Business Forum In the realm of Food & Grocery Retail, the MENA market is experiencing a profound shift, driven by the evolving needs of modern consumers, rapid technological advancements, and diversified products. This year's IMAGES RetailME Food Business Forum seeks to empower participants to navigate these industry shifts and highlight emerging trends by bringing together key industry players from leading hypermarkets, supermarkets, convenience stores, and specialty retailers. One of the day's standout sessions is the 12.00pm CEO Power Panel, which will explore how both legacy and next-gen brands are reinventing themselves through agile strategies, new formats, and bold market experimentation. Following the expert-led discussions, the forums will conclude with the UAERG Partners Felicitation Ceremony, honouring outstanding contributions across the food sector. Spanning a range of categories, the event will spotlight companies driving innovation, growth, and positive change within the industry. Abdulla Al Mulla, Chairman of UAERG, said, 'We are thrilled to be working with IMAGES RetailME once again, uniting some of the most renowned names in the food and beverage industry to exchange knowledge, share practical insights, and address the challenges shaping our sector. These forums represent more than just an opportunity to gather - they reflect our collective ambition to push boundaries, inspire innovation, and position the UAE and the greater MENA region as a global gastronomic hub of culinary excellence and business leadership.' After a successful inaugural edition, the second UAERG Food Service Forum and IMAGES RetailME Food Business Forum aim to build on that momentum. This year's edition offers a dynamic platform to stay ahead of emerging trends, forge meaningful connections, and uncover new avenues for growth, making it a must-attend for industry professionals and business owners alike. To register, please visit For more information about UAERG, please visit To learn more about IMAGES RetailME, please visit About UAERG: The UAE Restaurant Group (UAERG) was established in 2020 as the Dubai Restaurants Group and transitioned to its current form in 2022. As a distinguished not-for-profit organisation, the group unites some of the most renowned names in the food and beverage industry, working collectively to elevate the UAE as a global gastronomic hub. Guided by core values of integrity and innovation, UAERG seeks to promote excellence across the F&B sector while driving job creation and economic growth. The Group is equally dedicated to advancing sustainable practices within the industry. UAERG also serves as a central resource for research and insights, offering valuable reports on industry trends. Through regular member meetings, advisory sessions, and panel discussions, it provides a platform for dialogue and collaboration, helping shape the future of the UAE's dynamic F&B scene. For inquiries about membership or sponsorship, please contact sherine@
Tahawul Tech
8 hours ago
- Tahawul Tech
Japanese giant FUJIFILM opens new offices at Expo City in bid to expand its regional footprint
FUJIFILM Middle East and Africa has announced the inauguration of its new offices at Expo City Dubai, – an innovation-driven, people-centric community designed as a blueprint for sustainable urban living and the new centre of Dubai's future. The site will also host the FUJIFILM Technology Center (FTC) to support the training of employees, business partners, and end-users in the Middle East, Africa, Europe, and Asia. FUJIFILM brings world-renowned expertise and innovations to some of the region's vital sectors. As a global leader in healthcare, imaging and printing technologies, the firm supplies cutting-edge solutions in the UAE such as innovative diagnostic imaging systems helping raise the standard of care in the country and contributing to its development goals. The company is also preparing to launch AI-driven screening centers (NURA) in the region, reflecting its commitment to early detection and better health outcomes. Over the past five years, FUJIFILM has more than doubled its number of staff across its offices in the UAE, Saudi Arabia, Qatar, Egypt, Morocco, and South Africa. The establishment of its new offices in the UAE is part of the company's future-facing mindset, as well as efforts to increase proximity to end-consumers and key partners. The company also recorded impressive annual performance in 2024 and is looking to repeat the feat this year with an expected double-digit growth. H.E. Ken Okaniwa, Ambassador of Japan to the UAE, said: 'We welcome the inauguration of FUJIFILM's new offices and Technology Center in Expo City Dubai. This new investment by Japan's top company in healthcare, imaging and printing reflects the excellent relations between Japan and the UAE as well as the strategic position of the UAE as a global hub for business. I look forward to FUJIFILM's technologies contributing to better healthcare, promotion of industries and human capacity development.' Manal AlBayat, Chief Engagement Officer, Expo City Dubai, said: 'With its technologies used in vital sectors and its commitment to knowledge-sharing, FUJIFILM's choice of Expo City Dubai for its new offices and Technology Center reinforces the city's position as a hub for global businesses driving innovative solutions in the UAE and beyond. We are proud to welcome FUJIFILM to our innovation- and sustainability-focused community – an ecosystem where like-minded entities collaborate to drive meaningful progress.' The FUJIFILM Technology Center (FTC) is equipped with a comprehensive range of FUJIFILM solutions for live demonstrations, allowing visitors to try and test multiple products and services. Underscoring the global importance of the center for the company, Masataka Akiyama, President and CEO of FUJIFILM Europe, also stated: 'Our investment in the new offices and FUJIFILM Technology Center is a powerful enabler for product showcases, including a full-fledged center with hands-on training and lectures delivered by professionals in the UAE, Egypt, and Morocco. We are now also inviting imaging and printing experts to our new Dubai office space to facilitate the exchange of ideas and support the delivery of unrivaled solutions to our customers. The FUJIFILM Technology Center will be invaluable asset in the efforts to leverage our rich heritage of innovation and continue to serve as a benchmark for progress in the region.' Michio Kondo, Managing Director of FUJIFILM Middle East and Africa, commented: 'With the opening of our new offices at Dubai Expo City, FUJIFILM is starting the next exciting chapter of our success story in the Middle East. As we look to deepen our contribution to the region's prosperity and the wellbeing of its people by providing value through innovation and purpose-driven growth, our new space will be a focal point for co-creation, training, new partnerships, and the development of high-tech solutions to help enhance lives and economies.' At the end of last year, FUJIFILM signed six Memorandums of Understanding (MoUs) with prominent healthcare and medical institutions in Saudi Arabia. These partnerships aim to enhance healthcare solutions by promoting digitalization, improving efficiency, and delivering better patient outcomes, underscoring FUJIFILM's enduring collaboration with regional and Saudi organizations. FUJIFILM Middle East and Africa will also extend its commitment to the development of the region's talent, with plans to introduce new hires to support FTC operations and cement the company's leading role in knowledge sharing.
Arabian Business
13 hours ago
- Arabian Business
UAE franchise sector generates $27.2bn revenue a year
The UAE's franchise industry has become a significant contributor to the national economy, with annual revenues exceeding AED100bn ($27.2bn) and an annual growth rate of 15 per cent. Regionally, the MENA market is valued at more than AED120bn ($32.7bn), while globally the sector generates more than AED6tn ($1.63tn) and supports over 19m jobs through 2m franchisees. In celebration of World Franchise Day on June 11, the Emirates Franchise Association, affiliated with the Abu Dhabi Chamber of Commerce and Industry, hosted a high-profile forum under the theme 'Franchise Unites Us and Innovation Leads Us.' UAE franchises pass $27.2bn in revenue The event, held at the Chamber's headquarters, brought together a group of entrepreneurs, decision-makers, and public-private sector representatives with a shared interest in the rapidly growing franchise sector. Organised in collaboration with the Khalifa Fund for Enterprise Development and the Abu Dhabi Businesswomen Council, the forum focused on strategies to expand UAE-based franchise brands both locally and globally. This economic footprint underscores franchising's role in empowering entrepreneurs, creating jobs, and fostering sustainable business ecosystems. Noor Al Tamimi, Chairwoman of the Emirates Franchise Association, said that celebrating World Franchise Day reinforces the franchise sector's status within the UAE's economic ecosystem, especially considering national efforts to diversify sources of income and promote an entrepreneurial culture. She emphasised that franchising today is a practical tool for business growth, enabling entrepreneurs to operate within an integrated operational system, allowing them to benefit from knowledge, training, and institutional support. Al Tamimi said: 'The Emirates Franchise Association continues to implement its national strategy aimed at enabling Emirati brands to expand locally and globally. The relaunch of the Association's corporate identity has been a significant turning point in its journey, especially after it received official recognition from the World Franchise Council, which made it the accredited representative of the UAE at this international forum.' She confirmed that the Association hopes to be a strategic partner in building an integrated franchise ecosystem in the UAE, one that is based on supportive legislation, accessible financing, specialised training, and international representation. The forum featured a key dialogue session titled 'Meeting of Minds', where franchise owners, consultants, and experts discussed opportunities and challenges in growing local franchises. Topics included legal frameworks, operational readiness, and financial support mechanisms critical to achieving competitive and sustainable expansion. A presentation showcased successful Emirati brands that have scaled through franchising, and celebrated the Association's ongoing efforts to build a future-ready franchise landscape based on innovation and efficiency. Among the highlights of the event was the 'Franchise Walk,' a showcase of select local and international brands, providing attendees with direct insights into diverse business models. Meanwhile, advisory sessions were held in collaboration with professional consultancy firms, offering hands-on guidance regarding the legal, regulatory, and operational aspects of franchising.
