Director dealings: Hikma Pharma's founding family capitalise on share price slump

Three Hikma Pharmaceuticals directors, including chairman and chief executive Said Darwazah, took the opportunity to each snap up £3m worth of shares in the drugmaker as the stock slumped to its lowest level since early April.

Darwazah and his brothers, vice chairman Mazen, sons of founder Samih, on Wednesday bought 140,000 shares apiece at a price of 2,150p on the last day before the shares went ex-dividend, adding them to the holdings of the family's Darhold investment vehicle.

Non-executive Ali Al-Hursy, who also has an equity stake in Darhold, also snapped up 140,000 shares via the vehicle.

CEO Said now holds a combined direct and indirect stake of 5.59%, while Mazen has 3.06% and Al-Hursy 2.44%.

Said's purchase followed his £4.3m acquisition last week at a price of 2,160p after comments by US presidential hopeful Hillary Clinton about the escalating cost of drugs sent the sector lower.

As the stock went ex-dividend on Thursday, Hikma's shares were down almost 3% to just above a five-month low.

On 24 August Hikma said it still expected to produce full-year revenue of at least $2bn but reported a drop in operating profit despite a jump in first-half revenues.

Claiming a transitional year as it integrates its West-Ward Columbus acquisition, operating profits slipped to $176m from $204m due to a lower contribution from the generics business.

However, the FTSE 250 company still declared an interim dividend of 11 cents per share, in line with the dividend in the same period last year.

Top Director Buys

Hikma Pharmaceuticals (HIK)
Director name: Darwazah,Mazen
Amount purchased: 140,000 @ 2,150.00p
Value: £3,010,000.00

Hikma Pharmaceuticals (HIK)
Director name: Darwazah,Said
Amount purchased: 140,000 @ 2,150.00p
Value: £3,010,000.00

Hikma Pharmaceuticals (HIK)
Director name: Al-Husry,Ali
Amount purchased: 140,000 @ 2,150.00p
Value: £3,010,000.00

Octagonal (OCT)
Director name: David Davison,Martin
Amount purchased: 1,000,000 @ 195.00p
Value: £1,950,000.05

Aviva (AV.)
Director name: Mire,Michael
Amount purchased: 35,000 @ 432.50p
Value: £151,374.99

Hss Hire Group (HSS)
Director name: Quested,Paul
Amount purchased: 47,000 @ 85.00p
Value: £39,950.00

Pz Cussons (PZC)
Director name: Silver,Caroline
Amount purchased: 10,000 @ 333.15p
Value: £33,315.00

Elementis (ELM)
Director name: Waterman ,Paul
Amount purchased: 8,168 @ $2.99
Value: $19,059.11

Octagonal (OCT)
Director name: David Davison,Martin
Amount purchased: 1,000,000 @ 1.90p
Value: £19,000.00

Third Point Offshore Investors Ltd. Gbp Shares (TPOG)
Director name: Legg,Christopher F L
Amount purchased: 1,500 @ $14.45
Value: $16,915.11

European Assets Trust (EAT)
Director name: Bond,Julia
Amount purchased: 652 @ 1,072.60p
Value: £6,993.35

Blackrock World Mining Trust (BRWM)
Director name: Lewis,Jane
Amount purchased: 2,429 @ 286.19p
Value: £6,951.49

Elementis (ELM)
Director name: Waterman ,Paul
Amount purchased: 1,832 @ $2.98
Value: $4,260.47

Legal & General Group (LGEN)
Director name: Markham,Rudy
Amount purchased: 1,463 @ 211.54p
Value: £3,094.83

Legal & General Group (LGEN)
Director name: Meddings,Richard H
Amount purchased: 1,186 @ 211.54p
Value: £2,508.86

Legal & General Group (LGEN)
Director name: Popham,Stuart
Amount purchased: 772 @ 211.54p
Value: £1,633.09

Legal & General Group (LGEN)
Director name: Bradley ,Carolyn
Amount purchased: 731 @ 211.54p
Value: £1,546.36

Record (REC)
Director name: Cullen,Steve
Amount purchased: 1,919 @ 25.65p
Value: £492.22

Henderson Group (HGG)
Director name: Thompson ,Roger
Amount purchased: 63 @ 240.03p
Value: £151.22

Henderson Group (HGG)
Director name: Formica,Andrew
Amount purchased: 62 @ 240.03p
Value: £148.82

Henderson Group (HGG)
Director name: Wagstaff ,Philip
Amount purchased: 52 @ 240.03p
Value: £124.81