Sun Loses Shine In Q1, Testing Times In US
Performance Not An Indicator Of Underlying Business Strength, Management Says
Sun’s Q1 earnings were dented by provisions related to the generic pricing investigation settlement with the US Department of Justice of arm Taro, and the impact of pandemic-related lockdowns. Some clinic-administered products bore the brunt of lock-downs in parts of the US, though market share was unaffected.
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Sun enjoyed a sequential improvement in its US sales in Q2, with finished-dosage turnover in the market up by almost a fifth over the financial first quarter. Meanwhile, the Indian company is hoping to build on early momentum for its psoriasis therapy Ilumya in Japan, leveraging the dermatology expertise of acquired local company Pola.
Sun is hoping to build on early momentum for its psoriasis therapy Ilumya in Japan, leveraging the dermatology expertise of acquired local company Pola. The IL-23p19 inhibitor is also among the Indian firm's specialty products that saw US sales claw back to pre-COVID levels in Q2.
Tildrakizumab debuts in Japan, marking a key milestone for Sun Pharma, though heavyweight competitors including same class rival Skyrizi are already available on the market there.