Sales & Earnings
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After seeing a spike in demand due to the coronavirus pandemic in Q1, with a corresponding dip in Q2, the generics industry has largely seen single-digit drops in net revenues in the third quarter of 2020. Meanwhile, the Indian pharma market has seen recovery after facing a challenging coronavirus-induced slump in the first two quarters of 2020.
A third biosimilar to Genentech’s Rituxan is set to hit the US this month, as players begin to publish full-year financial results encompassing a remarkable year.
Japan’s Nichi-Iko saw its bottom line take a hammering in the six months to 30 September, as a number of its products had their prices cut following revisions to the National Health Insurance program.
Nippon Chemiphar saw its overall sales drop by 7.9%, dragged down by a fall in generics sales of 9.7%, in its financial first half ended 30 September 2020. The Japanese company’s plan to ride on the success of new launches faltered as it was unable to compensate for the impact of NHI drug price revisions implemented in October 2019 and again in April 2020.
Indoco’s domestic performance picks up pace as the Indian pharma market sees a “bounce back” after a long COVID-induced slump. The Indian company continues to perform well internationally and grow overall.
Fueled by a pipeline of more than 15 biosimilar candidates, Sandoz is aiming to treble the size of its $2bn global biosimilars business by 2030, targeting the US, Europe and Japan. Management spoke at length about the firm’s achievements and prospects during a meeting of parent Novartis’ management.
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