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UPDATE 1-Drugmaker Hikma sees 2017 guidance at lower end, shares slide

(Adds share movement, analyst comment)

Aug 17 (Reuters) - Hikma Pharmaceuticals Plc said on Thursday it expected 2017 revenue at the lower end of its guidance after higher competition in the United States hit prices, sending its shares more than 8 percent lower.

The Jordan-based firm, which makes and markets branded and non-branded generic and injectable drugs, said it now expected 2017 revenue to be about $2 billion, at the lower end of its previous forecast of $2 billion-$2.1 billion.

The firm's London-listed shares hit a more than three-year low with an 8.5 percent drop by 0754 GMT, the biggest percentage loser on Europe's index.

The company had already cut its full-year guidance in May to the range of $2 billion-$2.1 billion at constant currency from $2.2 billion.

Hikma's lower guidance in May followed a decision by U.S. regulators not to approve its generic version of GlaxoSmithKline Plc's blockbuster lung drug Advair, citing "major" issues with the application.

Hikma also lowered full-year revenue guidance on Thursday for a second time in its generics business by $50 million to about $620 million in 2017. Hikma's initial forecast had been $800 million.

The company said it expected revenue from its injectables business, that accounts for 40 percent of the total, to be "slightly lower" at around $775 million.

Both segments are expected to be hit by higher competition in some products in the second half of the year in United States, its biggest market.

"While we believe that a guidance downgrade was somewhat anticipated given previous commentary this quarter from generics companies, downgrades across all the divisions highlights the headwinds the company is facing," Morgan Stanley analysts wrote.

The company reported a 1 percent rise in revenue to $895 million for the six months ended June 30, but the figure missed estimates of $932 million. Core operating profit of $176 million was in line with last year.

The company said in a separate statement it had signed a deal with Takeda Pharmaceutical to licence and distribute medicines in Middle East and North Africa.

Hikma has been granted exclusive rights to manufacture and commercialise three of Takeda's primary care products in the regions. (Reporting By Justin George Varghese in Bengaluru; Editing by Edmund Blair)