Teva, Sandoz And Accord Take COVID-19 Action
Apotex Donates Critical Medicines, MedPharm Screens And Beximco Focuses Efforts
While Teva has helped to mitigate a Canadian shortage of salbutamol inhalers, Accord has struck a deal with the UK government to supply hydroxychloroquine. Sandoz is bolstering its inventory to meet demand and Apotex is donating critical medicines, while MedPharm’s new testing model will screen drugs for therapeutic eﬀectiveness and Beximco is focusing on manufacturing hydroxychloroquine, favipiravir and ivermectin.
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As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Second-quarter earnings results from two of the Big Three – Teva and Mylan – hold much of the intrigue in August, while more competition in the nascent Avastin biosimilar market could materialize in Europe.
As one of the largest players in the industry, Sandoz has undertaken several key measures to aid in the fight against the novel coronavirus outbreak, including maintaining stable prices for key measures and donating millions of doses of potential treatment options like hydroxychloroquine. CEO Richard Saynor sets out his thoughts on the ongoing pandemic and the role of the generics industry.