Tough Times Ahead For Towa As Japanese Generics Giant Slashes 2023 Predictions
Net Profits In Q2 Down Over 70%
Towa has made substantial cuts to its 2023 financial guidance as the difficult conditions of the Japanese generics market begin to take their toll.
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While Japan enters annual drug price revisions with frequent regulation changes, several major corporate players in the country warn again that government policies mean that the country is at risk of “losing attractiveness.”
Japan struggles to recover its ever-expanding supply chain for generic drugs after several key players had their production stopped because of a series of GMP violations. As the share of generics grows under government policy, some in the industry argue the problems are deeply rooted in a decades-old pricing system.