MAYNE Pharma shares fell almost 11% on Mon, wiping around $200m from its market capitalisation, following a revelation that sales for its Teva suite of US generic products would not meet forecasts.
The US generic scene was described by chief executive Scott Richards as "facing a tough price deflation cycle," adding "Mayne Pharma is not immune".
Richards said that the accelerating price pressure is "not just Teva, it's across the sector...this is probably as tough as it's been".
The situation has been worsened by President Donald Trump's classic rhetoric saying that pharma companies "have been getting away with murder," the company said.
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