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LONDON (Alliance News) - Hikma Pharmaceuticals PLC said that both its executive chair and executive vice chair bought a substantial number of shares on Wednesday.
Executive Chair Said Darwazah bought 20,000 shares for GBP1,591.66 per share for a total of GBP318,332, while Executive Vice Chair Mazen Darwazah bought 20,000 shares at GBP1,581.98 each for GBP316,396.
Shares in Hikma were down 6.0% at 1,556.00 pence on Wednesday afternoon.
Hikma published its annual results earlier on Wednesday, posting a pretax profit of USD293 million for 2018, swinging from a pretax loss of USD738 million in 2017.
Operating expenses were key to this, down at USD679 million from USD1.71 billion after a USD1.08 billion 2017 impairment of intangible assets and property, plant and equipment from its Columbus drug-making facility.
Revenue was USD2.07 billion, a 6.7% increase from USD1.94 billion the year before, which Hikma said reflected strong demand for its in-market products and new launches. Company-compiled consensus was for revenue of USD2.10 billion, putting Hikma's actual result just behind.
