Sector News

Hikma to split U.S. business; CEO Raya to depart

June 26, 2017
Life sciences

Hikma Pharmaceuticals PLC said Monday the chief executive of the U.S. business Michael Raya is retiring after 25 years on the job amid organizational changes at the division.

From July 1, the U.S. business will be organized into two entities–U.S. Generics Division and U.S. Injectables Division–both of which will report to the chairman and the chief executive officer of Hikma, the company said.

The company said it is doing do because it wants to “reflect its enhanced U.S. market positioning and to better align with the global Hikma organization.”

By Olga Cotaga

Source: Market Watch

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