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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Japan’s Towa saw 4.6% growth in domestic sales in the first nine months of FY21, on the back of new launches, as the coronavirus pandemic had only a “minor” effect on its business. But while the firm’s launch schedule for new products remains unaffected so far, the company pointed out that there may be slight delays in product development plans going ahead.
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.
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