Launch of Buyback Programme

Hikma Pharmaceuticals Plc

26 February 2026

 

HIKMA PHARMACEUTICALS PLC

LAUNCH OF BUYBACK PROGRAMME

London, 26 February 2026 - As separately announced today in its full-year results for the financial year ended 31 December 2025, Hikma Pharmaceuticals PLC (LSE: HIK) (NasdaqDubai: HIK) (LEI: 549300BNS685UXH4JI75) ("Hikma") is today commencing a buyback programme for the repurchase of its ordinary shares of £0.10 each (the "Ordinary Shares") up to the value of US $250 million (excluding stamp duty and expenses) to be executed effective immediately and completed no later than market close on 23 September 2026 (the "Buyback Programme").

·      Announcing a share buyback programme of up to US $250 million (excluding stamp duty and expenses) to be executed during 2026

·      Buyback reflects the Group's strong cash generation, balance sheet strength and the Board's confidence in the future growth prospects of the business

·      Hikma's strategic focus remains unchanged, prioritising the creation of further shareholder value through investing in organic and inorganic growth

·      The buyback has been sized to maintain balance sheet efficiency whilst leaving sufficient headroom for continued investment opportunities

The purpose of the Buyback Programme is to reduce the share capital of Hikma.

Hikma has entered into agreements with Citigroup Global Markets Limited ("Citi") and J.P. Morgan Securities plc ("JPMS plc") under which it has issued non-discretionary instructions to Citi and JPMS plc to manage the Buyback Programme in equal tranches by value and sequentially in accordance with each bank's respective period of engagement. Each of Citi and JPMS plc will act as riskless principal for the simultaneous on-sale of such shares to Hikma and will make their respective trading decisions under the Buyback Programme independently of Hikma in accordance with certain pre-set parameters and will carry out their respective instructions through the acquisition of Ordinary Shares in Hikma for subsequent repurchase by Hikma.

Hikma has instructed Citi in relation to the first tranche of repurchases of Hikma's Ordinary Shares for an aggregate purchase price of up to US $125 million (excluding stamp duty and expenses) pursuant to the Buyback Programme (the "Initial Tranche"). Purchases of the Ordinary Shares under the Initial Tranche will commence on 26 February 2026 and end no later than market close on 9 June 2026 and will be carried out on the London Stock Exchange, CBOE Europe Equities (comprising CXE and BXE), Turquoise and/or Aquis Exchange trading venues.

Hikma has instructed JPMS plc in relation to the second tranche of repurchases of Hikma's Ordinary Shares for an aggregate purchase price of up to US $125 million (excluding stamp duty and expenses) pursuant to the Buyback Programme (the "Second Tranche"), to be commenced automatically upon conclusion of the Initial Tranche and end no later than three calendar months and 10 trading days following commencement.

Any acquisitions under the Buyback Programme will be carried out within certain pre-set parameters, and in relation to any acquisitions made under the Initial Tranche and prior to the conclusion of Hikma's 2026 Annual General Meeting, will be made in accordance with the shareholder authorities granted at Hikma's Annual General Meeting on 24 April 2025 being (i) Hikma's general authority to repurchase Ordinary Shares up to a maximum number of 22,188,645 Ordinary Shares, and (ii) the waiver of Rule 9 of the City Code on Takeovers and Mergers in relation to such repurchases. The continuation of the Buyback Programme after Hikma's 2026 Annual General Meeting (whether in the Initial Tranche or the Second Tranche) will be subject to shareholder approval of equivalent buyback authorities and related waivers of certain Takeover Code obligations in respect of the Darhold Concert Party's interest in Hikma at its 2026 Annual General Meeting. All Ordinary Shares purchased under the Buyback Programme will be cancelled or held in treasury.

The Buyback Programme will be conducted within the parameters prescribed by the Market Abuse Regulation (596/2014) (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and UK Listing Rule 9.

Any repurchase of Ordinary Shares pursuant to the Buyback Programme will be announced no later than 7:30a.m. (London time) on the business day following the calendar day on which the repurchase occurred.

Enquiries:

Susan Ringdal EVP, Strategic Planning and Global Affairs	[phone]/ [phone]
Guy Featherstone Director, Investor Relations	[phone]/ [phone]

 

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