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Hikma says generic drug unit to be hit by approval delays

Reuters

(Reuters) - Drugmaker Hikma Plc (HIK.L) said full-year core operating profit from its generics unit would be hurt by delayed approvals of new products and higher-than-expected costs.

The company said it expected 2016 core operating profit for the unit to be between $30 million (£22.46 million) and $40 million, compared with a profit of $46 million in 2015.

Hikma reiterated its expectation that full-year revenue would be between $2 billion and $2.1 billion.

(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Savio D'Souza)