Hikma to split US business into two divisions

Hikma Pharmaceuticals has announced the retirement of Michael Raya, the chief executive officer of the US business, along with organisational changes to the US business and a number of senior leadership changes and appointments.

Raya, who was with the business more than 25 years, will retire at the end of this year and the US business will be organised into two entities - a generics division and an injectables unit - both of which will report into the chairman and chief executive, Said Darwazah.

Brian Hoffmann has been promoted to president of the generics division, while Riad Mishlawi will be CEO of the injectables division. Raya will continue to have oversight of the US business, working closely with the team for the rest of the year to transition the business.

Darwazah said: "I would like to thank Mike for his many years of successful leadership of our US business, and wish him well in his retirement. The leadership and organisational changes we have announced today will bring greater organisational focus and alignment, establish a scalable structure to enable continued growth, and strengthen the US leadership team."