Hikma H1 core profit falls

Drugmaker Hikma Pharmaceuticals Plc said its first- half core operating profit fell 14 percent to $ 176 million, hurt by lower contribution from specific market opportunities for its generics business.

The Jordan- based company, which makes and markets branded and nonbranded generic and injectable drugs, reported revenue of $ 882 million for the six months ended June 30.

The company warned in August that the full- year core operating profit from its generics unit will be hurt by delayed approvals of new products and higher- thanexpected costs.

The company said it continued to expect 2016 revenue to be in the range of $ 2.0 billion to $ 2.1 billion.

Hikma bought Boehringer’s US generic drug business for $ 2.65 billion in 2015.