FDA warning hits Hikma margins
Hikma Pharmaceuticals said yesterday it expects profitability in its generics business to be hurt by continuing price competition and steps it has taken to comply with a warning letter from US regulators. For the full year, the company expects to record generic drugs sales of between $130m-$135m, with sales strengthening in the second half. This marks a 13 per cent drop from the $154.8m in sales the generics business reported last year.