Fresenius Kabi’s EU Biosimilars ‘Lagging Behind Expectations’
COVID-19 Has Hit Impacted Market
Fresenius Kabi is looking to make headway into biosimilars but saw its progress limited by COVID-19 in Q2. Management gave an update on the company’s endeavors during the Q2 earnings call, including key tender victories.
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As Michael Sen takes the reins as CEO of Fresenius Kabi, Christian Pawlu has been recruited from Sandoz to head up the firm’s generics and complex formulations unit.
Fresenius Kabi has announced plans for six new launches along with fresh investment in manufacturing in the US market after the firm saw a 10% drop in North American sales in the third quarter. However, the company’s business in China saw a “solid recovery” to “pre-pandemic levels.”
Just three years after Fresenius Kabi agreed a $4.75bn takeover of the US injectables specialist, Akorn has obtained approval from a US bankruptcy court for its sale to the company’s existing lenders, having filed for Chapter 11 bankruptcy earlier this year.