Assertio falls on withdrawing 2023 forecast

Assertio Holdings

04/08/2023 15:47

** Shares of specialty pharma company Assertio Holdings Inc
 ASRT.O  fall 43.4% to $3.03
    ** Late on Thursday, ASRT withdrew its full-year forecast,
citing need to assess a recent U.S. FDA approval for generic
version of an antibiotic drug 
    ** However, reported Q2 rev of $4.99 mln, up 16.7% YoY, on
higher sales for arthritis drug Indocin 
    ** Analysts expected $39.83 mln sales - Refinitiv 
    ** Including session's fall, stock down 29.3% YTD
    

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))