Consolidation And COVID See Industry Top 10 Rankings Rewritten
Viatris Merger And Pandemic Disruption Shake Up Industry Leaders
After an extraordinary year that saw demand patterns and the supply chain upended by the COVID-19 pandemic, as well as a major merger that has transformed one of the global off-patent industry’s biggest players, the leaders of the pack in the Generics Bulletin Top 50 have once again seen significant changes in 2021.
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Sandoz enjoyed both top- and bottom-line growth in the second quarter, as the Novartis company rebounded from a challenging Q1 and explained how it would reach its financial targets in the longer term.
India's Sun Pharma is to foray into biosimilars, targeting first approval status for “third wave” products. It trails several peers and the changed stance comes as biosimilars gain traction in markets including the US, where experts have predicted a “coming out party” in the next few years.
Sandoz saw both its sales and core operating profit experience double-digit drops in what management described as a “challenging” first quarter of 2021. However, its performance is expected to stabilize in the back end of the year as pandemic-related pressures ease.