Hikma Pharmaceuticals CEO replaced by former CEO after guidance cut

(Alliance News) - Hikma Pharmaceuticals PLC said Riad Mishlawi is stepping down as chief executive officer on Monday "by mutual agreement", with the company's executive chair and former CEO taking over the running of the company.

Said Darwazah will immediately assume all CEO responsibilities, said the London-based pharmaceutical company with operations in Jordan. It will start to look for a new CEO "in due course".

Additionally, Chief Financial Officer Khalid Nabilsi will join the board and takes on expanded management duties.

Darwazah thanked Mishlawi for "his contributions over his long career", while Senior Independent Director Victoria Hull said the board is "confident" in the group's growth prospects under Darwazah's "experienced leadership".

Mishlawi was appointed as CEO just over two years ago, in September 2023, replacing Darwazah, who was acting CEO at the time and reverted to executive chair. Mishlawi had been president of Hikma's Injectables business since 2011.

Hikma on Monday confirmed its 2025 guidance is unchanged from its November 6 trading update. At that time, the company had reduced its medium-term guidance and cut the top-end of its 2025 core operating profit view amid a delayed start to production at a US site.

At the time, Hikma had said it expected revenue to grow in the range of 4% to 6% in 2025. Hikma also had guided core operating profit of USD730 million to USD750 million, compared to its previous guidance range of USD730 million to USD770 million.

In 2024, Hikma reported revenue of USD3.16 billion and core operating profit of USD719 million.

Hikma will release its 2025 results on February 26.

Hikma shares were down 1.8% to 1,489.00 pence early Monday in London. The wider FTSE 100 index was up 0.6%. Hikma is down 23% over the past year.

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Hikma Pharmaceuticals