Towa Plans 10 Launches In December 2020
Company Saw Softened Performance in Its Second Quarter For Fiscal 2021
After a strong first quarter, Japan’s Towa Pharmaceuticals saw stability in its domestic revenues but a drop in revenues from its overseas business in its financial second quarter. After launching a series of molecules in June 2020, the company has lined up 10 launches for December 2020 as well.
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After seeing a spike in demand due to the coronavirus pandemic in Q1, with a corresponding dip in Q2, the generics industry has largely seen single-digit drops in net revenues in the third quarter of 2020. Meanwhile, the Indian pharma market has seen recovery after facing a challenging coronavirus-induced slump in the first two quarters of 2020.
Sawai has launched what it says is Japan’s first generic version of Pfizer’s Lyrica pregabalin brand, with other Japanese generics firms waiting in the wings.
Towa says it expects consolidating the Pensa business it acquired earlier this year to boost its sales by more than a third in its current financial year. Meanwhile, the Japanese firm has reported sales ahead by 5% in the year ended March 2020 on the back of new launches, as well as growth in profits despite local price cuts.