Teva Remains Neutral On Erosion Worries After Sandoz Remarks
Teva’s Outlook On Price Erosion Differs From Sandoz In Solid Q1
Teva was drawn into the conversation around generic price erosion, especially in the US and Europe, after Sandoz singled out the unfavorable effect during a lackluster Q1.
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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.
Teva has expanded on plans to improve its profit margins after emerging from a years-long restructuring program that has cut its cost base by over $3bn. The Israeli company reported first-quarter sales ahead by 5% to $4.36bn, seeing a “mixed bag” effect from the COVID-19 pandemic as well as positive results from new launches including two US biosimilars.
Teva said it was once again at the mercy of the COVID-19 pandemic as it forecasted an extended if not indefinite wait for both criminal and civil proceedings over alleged generic drug price fixing in the US to move to trial.