US Pricing Squeeze Clouds Sun Pharma Q2; Site Re-Inspection Critical
Further evidence of the impact of pricing pressure in the US was provided when Sun Pharma reported a sharp fall in profits in Q2 (although it beat the expectations of some analysts). Sun also expects a delay in EU approval for its late stage psoriasis asset, tildrakizumab, but US approval timelines appear unchanged, at least for now.
You may also be interested in...
Sun presented new data on its IL-23 inhibitor tildrakizumab, pending US FDA approval, at the American Academy of Dermatology meeting. Novartis and others – all competing for payers' dollars – also try to make the case for their products.
Sun Pharma reported a sharp decline in Q3 profits, dented by tax adjustments related to changes in US tax rates and continuing pricing pressures there. With Q4 revenues expected to to be "similar” to Q3, all eyes are on the Halol site making the compliance cut and the upcoming PDUFA date for Sun’s psoriasis asset.
Sun Pharma, India’s biggest drug firm, slid into the red in the first quarter, hit by a hefty legal payout, regulatory woes and a dramatic drop in US sales, and company founder Dilip Shanghvi said while he expected a “gradual improvement” in performance, the outlook remained challenging.