Hikma non execs buy big stakes

18th Oct 2011 15:34

Two non-executive directors at Hikma Pharmaceuticals have upped their stakes in the Arab world-focused pharmaceutical company.Ronald Goode took 8,000 shares at 633p a time, lifting his stake to 22,700 shares, while Robert Pickering snapped up 7,500 shares at 617p a pop, having previously had none.In August, Hikma said that disruption in Libya and Yemen contributed to a fall in profits at pharmaceuticals group Hikma in the half year to 30 June. Gross profit fell to $172.6m from $178.5m over the same period the previous year, on revenues that climbed to $394.8m from $377.7m. Gross profits in the company's branded products division fell by $3m to $99.2m due to "lost sales in Libya and Yemen and action we took to increase salaries and employee benefits across the MENA (Middle East and North Africa) region to minimise the impact of market disruptions." Goode has 30 years' experience in the pharmaceutical industry, having previously worked at the US firms Pfizer and Searle. Pickering is a lawyer who spent 23 years at the stock broker Cazenove.Top Director BuysHikma Pharmaceuticals (HIK) Director name: Dr Ronald L GoodeAmount purchased: 8,000 @ 633.00p Value: £50,640Hikma Pharmaceuticals (HIK) Director name: Mr Robert Pickering Amount purchased: 7,500 @ 617.00p Value: £46,275IFG Group (IFP) Director name: Mr Aidan ComerfordAmount purchased: 20,000 @ 100.40p Value: £20,080Top Director SellsGulfsands Petroleum (GPX) Director name: Mr Kenneth JudgeAmount sold: 400,000 @ 191.25p Value: £765,000