Assertio shares are trading lower after the company reported Q2 financial results and withdrew its 2023 financial outlook to "assess the recent news of a generic indomethacin suppository approved by the US FDA."
Portfolio Pulse from Benzinga Newsdesk
Assertio Therapeutics reported its Q2 financial results and withdrew its 2023 financial outlook due to the recent approval of a generic indomethacin suppository by the US FDA. This has led to a decrease in the company's share price.
August 04, 2023 | 3:28 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Assertio's shares are trading lower after the company withdrew its 2023 financial outlook due to the approval of a generic indomethacin suppository by the FDA.
The approval of a generic version of a drug can significantly impact the revenues of the company that produces the original drug. This is because generic drugs are typically sold at a lower price, which can lead to a decrease in sales for the original drug. As a result, Assertio's decision to withdraw its 2023 financial outlook suggests that the company expects this approval to have a significant negative impact on its future revenues, which has led to a decrease in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100