Endo’s Generics Face Competitive Pressures
Company Sees Predicted Decline In Overall & Generics Revenues
After seeing increased demand because of COVID-19 in the first quarter of 2020, Endo’s generics segment has seen a predicted decrease in revenues in the second quarter. Furthermore, the company has also predicted an unfavorable impact due to competitive pressures for 2020 as a whole.
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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.
Dr Reddy’s Laboratories has leapfrogged Endo by launching a generic version of of Bayer/Alcon’s Ciprodex (ciprofloxacin/dexamethasone) 0.3%/0.1% otic suspension, as the US firm was stung with a major rejection by the US FDA.
Despite reporting 14% growth in the first quarter of 2020, Endo has forecast a downturn in the second quarter and has withdrawn its full-year financial guidance due to uncertainty regarding the continued impact of the coronavirus pandemic.