The pharmaceutical company, which went public on June 10, reported a nearly 26 per cent decrease in revenue in the quarter that ended June 30, and a quarterly loss of 19 cents per share. Shares fell as much as 6.6 per cent on Wednesday. (The Logic)

Talking point: The company’s revenue drop was partially offset by its semaglutide sales, as the sole supplier of generic Ozempic in Canada and the first approved supplier of generic Wegovy in the U.S. But Apotex also faced pressure to address U.S. President Donald Trump’s threats to impose tariffs on generic pharmaceuticals. On a conference call, CEO Jeff Watson said the majority of its U.S.-bound products are made in Canada, and that the company is working with the U.S. administration. Much of Apotex’s revenue drop was caused by the expected end to its special licence to sell Revlimid, which contributed $307.8 million in sales during the same period last year. Excluding Revlimid, the drug maker’s first fiscal quarter revenue was slightly above expectations, according to S&P Global Market Intelligence. 

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