NEW YORK, Aug 7 (Reuters) - King Pharmaceuticals Inc KG.N posted lower second-quarter profit on Thursday, falling short of Wall Street estimates, as generic competition eroded sales of its Altace blood pressure drug.
Net income fell to $43 million, or 18 cents per share, from $64.8 million, or 26 cents per share, a year earlier.
Excluding special items, earnings were 30 cents per share, 2 cents below the average estimate of analysts, according to Reuters Estimates.
Revenue dropped 27 percent to $396.9 million. Altace sales plunged 73 percent to $44 million.
Sales of the muscle relaxant Skelaxin edged down less than 1 percent to $107 million. (Reporting by Lewis Krauskopf; editing by John Wallace)