Latest news with #HikmaPharmaceuticals
Zawya
6 days ago
- Business
- Zawya
Hikma, IFC sign $250mln deal for MENA medicine access
Hikma Pharmaceuticals (Hikma), a multinational pharmaceutical company, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $250 million six-year financing agreement focused on expanding access to medicines to support Hikma's operations across the Middle East and North Africa region (MENA), by strengthening local medicine production. This financing builds on IFC's anchor role in Hikma's $500 million, five-year bond issuance, which included a $50 million subscription from IFC. The latest investments mark another milestone in a 40-year partnership and reaffirm IFC's commitment to supporting Hikma's mission of providing high-quality, affordable medicines across key MENA markets. 'Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades, most recently through the strategic $250 million loan and contribution to our $500 million bond issuance. This has allowed us to respond effectively to critical healthcare needs in the regional markets we serve.' said Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA. 'Our partnership transcends monetary transactions and reflects our long-term alignment and shared values on corporate governance and sustainability. Together, we have grown strategically while staying focused on what matters most; supporting our patients by addressing high unmet healthcare needs across the region.' Khawaja Aftab Ahmed, IFC's Regional Director for the Middle East, Pakistan, and Afghanistan, added: 'IFC's 40-year partnership with Hikma continues to demonstrate what's possible when global development institutions and private sector leaders collaborate. Together, we've expanded access to high-quality medicines across emerging markets, enabling the company to grow into new territories and deliver critical medicine when it was needed most, including during the Covid-19 pandemic. Our recent engagements build on that strong foundation and open the door for even greater impact by supporting local medicine production and continued regional growth, despite ongoing conflict and uncertainty.' -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
15-07-2025
- Business
- Zawya
Hikma, IFC sign $250mln deal, marking a 40-year partnership driving access to quality medicines in the MENA region
Amman, Jordan - Hikma Pharmaceuticals PLC (Hikma), a multinational pharmaceutical company, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $250 million six-year financing agreement focused on expanding access to medicines to support Hikma's operations across the Middle East and North Africa region (MENA), by strengthening local medicine production. This financing builds on IFC's anchor role in Hikma's $500 million, five-year bond issuance, which included a $50 million subscription from IFC. The latest investments mark another milestone in a 40-year partnership and reaffirm IFC's commitment to supporting Hikma's mission of providing high-quality, affordable medicines across key MENA markets. Over four decades, IFC has offered Hikma financing and advisory tailored to the company's growth trajectory and helping reinforce its operational resilience. In 2017, IFC extended a loan to facilitate Hikma's regional expansion and later, in 2020, provided a financing package that enabled the uninterrupted distribution of medicines across the MENA region during the COVID-19 pandemic. 'Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades, most recently through the strategic $250 million loan and contribution to our $500 million bond issuance. This has allowed us to respond effectively to critical healthcare needs in the regional markets we serve.' said Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA. 'Our partnership transcends monetary transactions and reflects our long-term alignment and shared values on corporate governance and sustainability. Together, we have grown strategically while staying focused on what matters most; supporting our patients by addressing high unmet healthcare needs across the region.' Hikma operates in over 50 countries across MENA, North America, and Europe, reporting revenues of over $3 billion in 2024. The company's growth has been driven by investments in local manufacturing and a series of strategic acquisitions and partnerships with multinational companies aimed at expanding access to high-quality medicines. Hikma has been listed on the London Stock Exchange since 2005 and was recognised in the FTSE4Good Index for ten consecutive years for its sustainability performance. In 2012, IFC honoured Hikma with its Client Leadership Award in recognition of its achievements in sustainability and corporate governance. Khawaja Aftab Ahmed, IFC's Regional Director for the Middle East, Pakistan, and Afghanistan, added: 'IFC's 40-year partnership with Hikma continues to demonstrate what's possible when global development institutions and private sector leaders collaborate. Together, we've expanded access to high-quality medicines across emerging markets, enabling the company to grow into new territories and deliver critical medicine when it was needed most, including during the COVID-19 pandemic. Our recent engagements build on that strong foundation and open the door for even greater impact by supporting local medicine production and continued regional growth, despite ongoing conflict and uncertainty.' The 40-year anniversary of our partnership was celebrated at Hikma's Amman headquarters on 14 July, with senior leaders and partners in attendance to honour their shared commitment to building stronger, more resilient health systems across the MENA region and beyond. About Hikma Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB/stable S&P and BBB/stable Fitch) 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. About IFC IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
Business Insider
10-07-2025
- Business
- Business Insider
RBC Capital Keeps Their Buy Rating on Hikma Pharmaceuticals (HIK)
In a report released on July 7, Alistair Campbell from RBC Capital maintained a Buy rating on Hikma Pharmaceuticals, with a price target of p2,625.00. The company's shares closed yesterday at p1,973.00. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Campbell covers the Healthcare sector, focusing on stocks such as Recordati Industria Chimica e Farmaceutica SPA, Hikma Pharmaceuticals, and Almirall. According to TipRanks, Campbell has an average return of 5.1% and a 54.08% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hikma Pharmaceuticals with a p2,509.29 average price target, implying a 27.18% upside from current levels. In a report released on June 27, Berenberg Bank also maintained a Buy rating on the stock with a £25.60 price target. Based on Hikma Pharmaceuticals' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of p1.56 billion and a net profit of p133 million. In comparison, last year the company earned a revenue of p1.45 billion and had a net profit of p59 million Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HIK in relation to earlier this year.
Zawya
03-07-2025
- Business
- Zawya
Hikma Pharmaceuticals prices 5-year $500mln Reg S bond
Hikma Pharmaceuticals has priced its $500 million Reg S 5-year senior unsecured bond, with a 5.223% yield and a spread set at 135 basis points over Treasuries. The bond has a fixed coupon payment at 5.125%, semi-annual in arrear. Final books were at $600 million, with Hikma Finance USA listed as the issuer. Hikma Pharmaceuticals, which is listed on the London Stock Exchange and Nasdaq Dubai, is the guarantor on the bond, with a rating of BBB Stable by S&P and BBB Stable by Fitch, in line with the expected issue rating. The settlement date for the notes is July 8, 2025. Citi and HSBC have been appointed as Joint Global Coordinators, with Citi, Emirates NBD Capital, HSBC, Mashreq and Mizuho named as Joint Lead Managers and Bookrunners. The bond will be listed on the International Securities Market of the London Stock Exchange. Founded in Jordan in 1978, Hikma is the second largest pharmaceutical company in MENA by sales. Last week, Hikma unveiled a $1 billion investment strategy to bolster its manufacturing and research capabilities across the US by the year 2030. The company's expansion will enhance facilities in Ohio and New Jersey. (Writing by Bindu Rai, editing by Daniel Luiz)
Ammon
01-07-2025
- Business
- Ammon
Hikma Pharmaceuticals to Invest $1B in U.S. Manufacturing & R&D Capabilities
Ammon News - Hikma Pharmaceuticals will invest $1 billion by 2030 to further expand its US manufacturing and R&D capabilities. This new phase of investment will further expand Hikma's domestic capabilities to develop, produce and deliver a broad range of medicines. Hikma has operated in the US since 1991 and has spent more than $4 billion over the past 15 years to build, enhance and expand its US-based R&D and manufacturing capabilities and now has annual domestic capacity to produce more than 12 billion finished doses of essential medicines. Over this period, Hikma has provided patients with access to a wide range of generic medicines at a lower cost than branded products. The new phase of investment represents the Company's latest efforts to increase the volume of essential medicines it develops and produces across its R&D and manufacturing sites in Columbus and Cleveland, Ohio and in Cherry Hill and Dayton, New Jersey. This next phase of expansion will help to strengthen Hikma's portfolio of more than 800 medicines and increase the Company's US-based capacity to produce large volumes of high-quality and affordable medicines for American hospitals, providers and patients. 'We are proud to continue our ongoing investments in US manufacturing and R&D to better serve the needs of American patients,' said Dr. Hafrun Fridriksdottir, President, Hikma Rx. 'Hikma and our 2,300 dedicated US people are committed to supporting healthier communities nationwide by providing Americans with a steady and reliable supply of domestically produced quality medicines.'
