Hikma shares slide as FDA issues warning letter over its Portugal injectables plant

27 October 2014

Jordanian drugmaker Hikma (LSE: HIK) has seen its shares fall as a result of a warning from the US Food and Drug Administration relating to environmental monitoring at its Portugal plant.

Some analysts have said this plant accounts for around a quarter of Hikma’s US injectable sales, which indicates the severity of the potential problem for the company.

Shares fell more than 6% on Friday, compounding weak branded drug sales and a case filed by Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) against an approval of Hikma’s gout drug.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK