Generics Industry Fails To Match Last Year’s Growth In First Quarter
Firms Including Sandoz, Teva And Amneal Struggle With Prior-Year Comparison
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
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Faced with a slowdown in the US from a lack of regulatory approvals, Torrent Pharma is looking at alternate growth strategies. Its entry into the trade generics segment in India, joining other pharma majors, is one to be watched as it marks a strategic shift.
India’s Granules has grown through increased market penetration of its existing products as well as new product launches. The company is planning to invest in expanding its API capacity, finished dosages and a new multiple unit pellet facility.
Torrent Pharma has reported a double-digit drop in its US revenues after discontinuing its sartan portfolio, due to the presence of trace amounts of N-nitrosodimethylamine. The company saw its domestic market grow aided by market share gains in high potential new launches.