FDA warning hurts Hikma generics margins

(Reuters) – Hikma Pharmaceuticals Plc said it expects profitability in its generics business to be hurt by continuing price competition and steps it has taken to comply with a warning letter from U.S. regulators. In February, the company received a warning letter from the U.S. Food and Drugs Administration (FDA) about operations at its Eatontown oral dosage facility in New Jersey. Hikma said it was enhancing its processes to address the regulator’s observations but the actions would slow sales in the first half. …