Sawai Urges Japan To Take 'Best And Only Chance' To Reform Pricing Amid Generic Crisis
Kenzo Sawai, president of Japanese generics giant Sawai Pharmaceutical, tells Scrip in the first of a two-part exclusive interview about the firm’s strategy and backstory of efforts to maintain product supplies amid the country’s ongoing generic crisis. He also urges Japan to take "the best and only chance" to reform its drug pricing system to help the entire market survive.
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Japan’s Nichi-Iko has formally entered a business turnaround alternative dispute resolution process that will see the company outline a business rehabilitation plan involving management restructuring and a fresh profit structure, following financial underperformance in the wake of recent quality issues.
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.
Nichi-Iko’s first-half financial results made for unhappy reading again as the company’s bottom line was battered by longstanding quality problems, leading the firm to announce huge projected losses for its current financial year ending in March 2022.