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Jordanian Pharmaceutical Company Replaces Tullow Oil on FTSE 100

Jordanian Pharmaceutical Company Replaces Tullow Oil on FTSE 100
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You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Hikma Pharmaceuticals is now the fourth pharmaceutical company to make it on the FTSE 100 Index. Owned by the London Stock Exchange, the FTSE 100 is a quarterly index that lists the London Stock Exchange’s top 100 companies, in terms of its market capitalization. Hikma Pharmaceuticals’ market value is at almost 4.9 billion British pounds, knocking off Tullow Oil, due to its value shrinking from £4.6 billion to £3.3 billion as a result of declining oil prices. Hikma Pharmaceuticals have enjoyed a 21% rise in profits, and have now been discussing terms for potential dollar bonds with Citigroup, Barclays, HSBC, and National Bank of Abu Dhabi.