Towa’s New Overseas Business Boosted By COVID-19 Demand
Acquired Pensa Investment Assets
Japan’s Towa Pharmaceutical endured a mixed financial first quarter, seeing the April round of Japanese National Health Insurance pricing measures bite into domestic sales while its new overseas business thrived as COVID-19 pushed up demand.
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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.
The second part of Generics Bulletin’s newly-compiled global sales ranking of generics and biosimilars companies sees a number of major firms sliding up and down the table.
Japan’s Towa has completed its €329m deal for the Pensa Investments generics business of Spain’s Esteve.