Overview

• U.S. biopharma's Q1 revenue fell 18% yr/yr as U.S. sales declined amid generic competition

• Operating loss narrowed 16% yr/yr due to cost reduction initiatives

• Net loss widened, mainly due to higher interest and derivative expenses

Outlook

• Company did not provide specific guidance or outlook for future periods

Result Drivers

• GENERIC COMPETITION - Co said 33% decrease in U.S. sales was due to competition from generic L-Glutamine

• MENA SALES GROWTH - 94% increase in MENA region sales partially offset U.S. decline

• COST REDUCTION - Lower operating expenses due to reduced headcount and other cost cutting measures

Company press release: ID:nBwxrtbCa

Key Details

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