Hikma lowers FY revenue forecast on U.S. drug launch delay
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.
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.
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