Towa Pharmaceutical Co. Ltd.
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Latest From Towa Pharmaceutical Co. Ltd.
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.
Japan’s Towa Pharmaceutical endured a mixed financial first quarter, seeing the April round of Japanese National Health Insurance pricing measures bite into domestic sales while its new overseas business thrived as COVID-19 pushed up demand.
Towa says it expects consolidating the Pensa business it acquired earlier this year to boost its sales by more than a third in its current financial year. Meanwhile, the Japanese firm has reported sales ahead by 5% in the year ended March 2020 on the back of new launches, as well as growth in profits despite local price cuts.
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