Nichi-Iko Manufacturing Plant Raided Over Illegal Production – Report
Raid Follows Earlier Suspension Of Sales And Production
Japanese generics giant Nichi-Iko had a key manufacturing plant raided by Japanese authorities and regulator the PMDA, per media reports, following the recent suspension of production and sales at the site in the Toyama prefecture.
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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.
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.
Nichi-Iko says that remediation activities at its Toyama plant in the wake of a suspension over GMP violations mean that there may be delays to supply.