King Pharma has seen better days. Yesterday, the drug mini-giant reported a Q4 loss on costs tied to its $1.3B purchase of Alpharma. King’s revenue also sank 35% to $347.7M due to a $144M generic erosion of Altace.

King has also seen delays in getting new drugs, Remoxy and Embeda, approved. Analyst Corey Davis of Natixis Bleichroeder said:

“Should Remoxy or Embeda fail to gain approval, be held up in litigation, or fail to gain significant market traction, the growth prospects for King would be challenging and (their) valuation might be revised downward.”

King was also forced to axe 720 employees in early February in order to cut spending and save precious cash.

Oh the pain…

Image from asnc

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