Teva Sees COVID Sales Correction
Takes Impairment On Japanese Venture And Bolsters Biosimilars Business
In a busy second quarter for Teva, a COVID-19 slump acted as a correction to the related boost in demand seen in the first quarter of 2020.
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To boost the technology used in its digihaler family of inhalers, Teva has partnered with Amazon Web Services and Onica, a Rackspace Technology company. With this collaboration, Teva aims to protect patients’ information and ensure data security.
Teva has completed its portfolio of digital inhalers by launching a further two products, AirDuo Digihaler (fluticasone propionate/salmeterol) and ArmonAir Digihaler (fluticasone propionate), in the US. The pair join the firm’s previously launched ProAir Digihaler (albuterol sulfate).
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.