Indoco Counts On Indian Market Bouncing Back
Company Plans To Ramp Up Its Partnership With Teva By FY22
Indoco’s domestic performance picks up pace as the Indian pharma market sees a “bounce back” after a long COVID-induced slump. The Indian company continues to perform well internationally and grow overall.
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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.
As Sandoz tries to assist African Union member states by selling its pandemic response portfolio medicines for zero profit, mAbxience has partnered with AstraZeneca to produce a vaccine. And CDMO Hovione has struck a deal with Ligand to boost manufacturing of Captisol, a critical ingredient for Gilead’s remdesivir.
Indoco has tripled its operating profit in its financial first quarter ended 30 June 2020. The company has also received FDA approval for its generic version of Eli Lilly’s Zyprexa.