Hikma Pharmaceuticals, which is based in Jordan, has lost 40 per cent of its value since May ReutersOne of the London market’s biggest drug companies cut its guidance for the second time in three months triggering a renewed sell-off in its shares. Hikma Pharmaceuticals fell as much as 15 per cent at one point today, taking its losses beyond 40 per cent since May, after it cut its forecasts for its pressured generics drugs business. An update on delays bringing to the US market a copycat version of Advair, Glaxosmithkline’s blockbuster asthma inhaler, also disappointed investors. Hikma had said in May that the US Food and Drug Administration had withheld approval for a generic version as the application required significant amendments. It said this morning that alongside Vectura, its partner, it had resolved a “number of questions raised” by officials and discussions…

Source: The Times August 17, 2017 11:03 UTC