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Hikma to cut 200 jobs as part of consolidation of generics facilities

Hikma Pharmaceuticals PLC CFO Khalid Nabilsi said the company will cut another 200 positions as it consolidates generics manufacturing facilities and U.S. distribution centers, Reuters reported.

The U.K. pharmaceutical company has already cut 200 jobs since it acquired the generics business from Boehringer Ingelheim Corp. in 2016, Nabilsi said.

Earlier, Hikma Pharmaceuticals said earnings for the year ending Dec. 31, 2017, fell 9%, partly due to intense pricing pressure in the U.S.

The U.S. Food and Drug Administration recently upheld its 2017 rejection of Hikma's application for a generic version of GlaxoSmithKline PLC's blockbuster asthma treatment Advair Diskus.