Recovery ‘Will Take Time’ For Nichi-Iko As Operating Profit Falls 99.8%
Japanese Firm Slashes Profit Expectations On Back Of Q3 Results
Nichi-Iko has a full menu of problems affecting operations both in its native Japan and US Sagent business. These compounded to devastate the firm’s bottom line in the nine months to 31 December, the firm’s financial results have revealed.
You may also be interested in...
Nichi-Iko has been forced to cut dramatically its core operating profit guidance for its 2022 financial year, as it continues to deal with the fallout of its previously deficient Namerikawa manufacturing facility in the Toyama prefecture.
Teva is keeping a keen eye out for opportunities like its US biosimilars agreement with Alvotech and more recent deal with Bioeq for biosimilar Lucentis as it attempts to maintain revenues in the coming years, following a cut to full-year sales guidance for 2021.
Japan’s Nichi-Iko has reported operating profit that has plummeted by more than 95% in its latest financial year, as the firm suffered a forced shutdown of once of its Japanese plants and also recognized a substantial impairment linked to its US Sagent business.