Quantum Pharma's H1 pretax profit has sunk to £0.8m, from a profit of £2.8m. Revenue was £42.8m, from £34.3m.
"The core specials business is performing well and launches from the Niche Pharmaceuticals pipeline are being brought to market largely in line with plan," said CFO Chris Rigg in a statement.
"The early indications are that sales of Glycopyrronium Bromide Oral Solution delivered under the core strategy of unlicensed to licensed and 'cease and desist' notifications are encouraging."
"Although we continue to expect to deliver strong growth in the second half of the year and beyond, given the recent performance of products other than unlicensed to licensed products and the conclusions of the business review, the Board now expects performance will be materially below market expectations.
"The Board is confident in the growth potential of the business from this revised base with its renewed focus on our key strategic objectives."