Shares of King Pharmaceuticals Inc. tumbled Thursday after the specialty drugmaker issued a disappointing second-quarter earnings report. King Pharmaceuticals has reported it saw a drop in revenue in the second quarter of the year.Total revenues for April to June were $397 million, compared with $543 million in the same period last year.King said the main reason for its decreased revenue was the arrival to the market of generic substitutes for its Altace drug.
However, Brian Markison, chairman, president and chief executive officer of King, said the firm is pleased with the continued strong
performance of its Thrombin-JMI drug.
When asked for more detail on pricing and background on the thrombin market they again reiterated the perception of an "account by account fight" with a "fair amount of pressure on pricing". There was also a "a lot of pressure on the margin".
performance of its Thrombin-JMI drug.
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