Siegfried Expects A Stronger Second-Half For 2020
Company Reported First-Half Production Interruptions Due To COVID-19
Siegfried reported a stable first half on the back of 7% growth in sale of drug products despite COVID-19 impacts. It expects growth in sales and EBITDA margin to increase for the second half of 2020.
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Siegfried has completed the acquisition of two Spanish manufacturing facilities from Novartis, in a move that will significantly enhance the Swiss CDMO’s capacity.
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.
Japan’s Nippon Chemiphar has managed to reduce its rate of decline in pharmaceutical sales in the third quarter of FY21, on the back of well-performing recently-launched generics and group-wide structural reforms and cost reductions. The company is making no changes to its full-year forecast.