Drugmaker Hikma cuts generics sales forecast a third time

Hikma Pharmaceuticals Plc on Thursday lowered 2017 revenue guidance for its generics business for the third time.

The Jordan-based firm, which makes and markets branded and non-branded generic and injectable drugs, said it expected revenue of around $600 million and a core operating margin in the low single-digits from its generics business.

In August it had lowered its generics revenue guidance by $50 million to about $620 million, having slashed it to $670 million from an initial $800 million last November.

(Reporting by Justin George Varghese in Bengaluru; editing by Jason Neely)