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Hikma lowers full year revenue forecast on US drug launch delay

Hikma lowers full year revenue forecast on US drug launch delay
Published by
Reuters

Less than 1m read

19 May 8.36am

Hargreaves Lansdown is not responsible for this article's content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest. Article originally published by Reuters.

Drugmaker Hikma Pharmaceuticals Plc on Friday said its revenue for the full-year would be between $2.0 billion-$2.1 billion at constant currency, reflecting delays in the launch of its generic asthma drug.

The company's generic version of GlaxoSmithKline's blockbuster lung drug Advair had been denied approval by U.S. regulators due to "major" issues with its application earlier this month.

Hikma had earlier forecast full-year revenue to be around $2.2 billion at constant currency. Revenue from the generics business is now expected to be $670 billion, down from its earlier forecast of $800 million.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair). Copyright (2017) Thomson Reuters. This article was from Reuters and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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  • 19 May 8.36am
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Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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