Olafsson quits at pharma firm Hikma

THE boss of pharma business Hikma has suddenly quit, it emerged today.

Siggi Olafsson, who became CEO in 2018, is leaving “to pursue other opportunities”, the firm said. Hikma shares slid 10% this month after the company revised down revenue forecasts for its generics division amid delays to the launch of a new product.

Olafsson had total pay of £5.3 million in 2021 according to the firm’s annual report.

Chairman Said Darwazah will temporarily assume CEO responsibilities.

The shares fell 13p to 1745p, which leaves the business valued at £3.9 billion.