Earnings Recovery For Nichi-Iko Unlikely Before Full Resumption Of Toyama Shipments
Japanese Generics Giant Still Suffering Following The Events Of 2021
Nichi-Iko still has a long road to recovery ahead as it attempts to get its Toyama plant back on its feet.
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Kenzo Sawai, president of Japanese generics giant Sawai Pharmaceutical, talks about the firm’s strategy and backstory of efforts to maintain product supplies amid the country’s ongoing generic crisis in an exclusive interview. He also urges Japan to take "the best and only chance" to reform its drug pricing system to help the entire market survive.
Nichi-Iko experienced substantial losses over the financial year ended 31 March 2022, as one of many Japanese generics firms found to have been falling short on GMP since the beginning of 2021.
Japan’s Nichi-Iko has formally entered a business turnaround alternative dispute resolution process that will see the company outline a business rehabilitation plan involving management restructuring and a fresh profit structure, following financial underperformance in the wake of recent quality issues.