Generic pharmaceuticals company Hikma (HIK) sold off strongly this morning after sales forecasts for its recent acquisition target were slashed.
IC TIP:
Hold
at
1737p
Just last month the company issued the prospectus for its purchase of Roxanne Laboratories from German pharmaceutical giant Boehringer Ingelheim (BI) but has now announced a $535m (£368m) reduction in the upfront gross cash consideration based on new information from BI on the 2015 financial performance of Roxanne.