By Val Brickates Kennedy, MarketWatch BOSTON (MarketWatch) -- Drug stocks retreated in early action Thursday as shares of King Pharmaceuticals plunged after the company issued a weaker-than-expected earnings report. The Amex Pharmaceutical Index eased 0.7% to 313.3 and the Amex Biotechnology Index retreated 1% to 855.3. King shares tumbled 15% to $10.36. The drugmaker reported markedly lower earnings and sales for the second quarter, due largely to increased generic competition for its blood-pressure medication Altace. See full story. Novo Nordisk A/S shares also took a hit on that company's earnings report. Shares of the Danish drugmaker skidded 7% to $62.08. Novo Nordisk reported that its profit for the first half of 2008 fell 13% to $954 million. Last year's figures included a hefty gain related to sale of its Dako...
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