Barr Pharmaceuticals Slumps

Barr Pharmaceuticals (BRL Quote) slumped more than 9% as the specialty drugmaker registered a drop in first-quarter profit and reaffirmed full-year guidance that is roughly in line with analysts' expectations.

Barr had net income of $35.1 million, or 33 cents a share, for the quarter ended March 31, down from $45.9 million, or 44 cents a share, in the same period a year ago.

Excluding items, Barr reported earnings of $62.2 million, or 58 cents a share, which beat analysts' quarterly estimates of 57 cents a share. ...