LONDON – Hikma Pharmaceuticals PLC (LSE:HIK) (NasdaqDubai:HIK) announced today the commencement of a share buyback program to repurchase up to $250 million of its ordinary shares, excluding stamp duty and expenses, according to a press release statement.
The program begins today and will conclude no later than market close on September 23, 2026. The company stated the buyback reflects its cash generation and balance sheet strength.
Hikma has appointed Citigroup Global Markets Limited and J.P. Morgan Securities plc to manage the program in equal tranches by value, executed sequentially. Each bank will act as riskless principal and make trading decisions independently within pre-set parameters.
The first tranche, managed by Citi, covers repurchases up to $125 million and runs from today through June 9, 2026. Purchases will occur on the London Stock Exchange, CBOE Europe Equities, Turquoise and Aquis Exchange trading venues.
J.P. Morgan Securities plc will manage the second tranche of up to $125 million, commencing automatically after the first tranche concludes and lasting no more than three calendar months and 10 trading days.
The program operates under shareholder authorities granted at Hikma’s April 24, 2025 Annual General Meeting, which authorized repurchase of up to 22,188,645 ordinary shares. Continuation of the program beyond Hikma’s 2026 Annual General Meeting requires shareholder approval of equivalent buyback authorities at that meeting.
All ordinary shares purchased under the program will be cancelled or held in treasury. The buyback aims to reduce Hikma’s share capital.
The program complies with the Market Abuse Regulation and UK Listing Rule 9. Hikma will announce any repurchases by 7:30 a.m. London time on the business day following each transaction.
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