Ivax predicts declining revenues from increased generic competition; PRI, Royce also note trend.
IVAX PREDICTS $18 MIL. DROP IN SECOND QUARTER NET REVENUES and operating income, the Miami-based generics company announced June 27. Ivax points to three factors to explain its revised outlook: "significant customer inventories of important generic drugs"; "price declines for certain generic drugs" resulting from "generic versions of the same drugs by competitors who have adopted aggressive pricing strategies"; and the credits resulting from adjusting accounts "to reflect price declines."
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