King Pharmaceuticals' Sales Guidance Is Light

Markison added that the uncertainty over the timing for generic competition for the muscle pain drug Skelaxin, King's second-best selling medication, prevents him from offering an EPS estimate for the fiscal year at this time. Skelaxin produced $238.6 million in sales last year. The blood pressure drug Altace was the top-seller with $347.3 million. Total revenue last year was $1.3 billion, down from $1.49 billion in sales in 2003.

King has reorganized and restructured many of its operations, and it has replaced many top managers. Total full-time employment was 2,746 as of Feb. 28, down from the roughly 3,000 employees at the end of 2003. It appears that most of the cuts have come from the sales force, which is down to 1,050 from 1,300 at the end of 2003.

King's stock slipped 8 cents, or 1%, to $7.91.

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