Half Year Results 

Hikma cuts guidance

Hikma cuts guidance

Investors fled from Hikma Pharmaceuticals (HIK) after it cut full-year revenue guidance for its generics division to $620m (£481m) from the $800m predicted at the final results in March, citing increased competition on both prices and volumes. The group is still in discussions with the US Food and Drug Administration (FDA) over a possible generic version of Advair, GlaxoSmithKline’s (GSK) asthma drug. It said there are “no material issues regarding the substitutability of the proposed device”, but didn't give any indication of when the drug would come to market. Originally, it was expected to come to market this year and contribute 15 per cent to generics revenue.

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