Mayne’s Generics Segment Sees Double-Digit Drop In Sales
Company Expects NuvaRing Generic And Pipeline Products To Drive Growth
Despite a double-digit drop in sales of generics business for the financial year ending 30 June 2020, South Australia-based Mayne filed for three generics with the US FDA and a “potential launch of generic NuvaRing.”
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Mayne Pharma has received a further setback in its attempt to bring a generic version of NuvaRing to the US market after the FDA issued the firm with another complete response letter.
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.
Tough operating conditions in the US retail generics markets have led Mayne Pharma to cut resources allocated to generics as it narrows its focus onto dermatology and women’s health.