Hikma Pharmaceuticals cut guidance, citing injectables challenges, causing shares to drop 17% despite revenue growth and new leadership.

Hikma Pharmaceuticals shares dropped 17% after the company withdrew its medium-term guidance and forecast 2% to 4% revenue growth for 2026, below expectations. Despite a 7% revenue rise to $3.35 billion and strong performance in branded and Hikma Rx divisions, challenges in its injectables business—due to U.S. competition, margin pressure, and production delays—led to the cautious outlook. The company announced a 5% dividend increase and a $250 million share buyback, while leadership changes included Said Darwazah becoming CEO and Victoria Hull as chair. Hikma plans increased investment in injectables R&D and manufacturing amid ongoing restructuring.