Alembic Pharmaceuticals Limited
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Latest From Alembic Pharmaceuticals Limited
India’s Alembic has reported a 38% drop in its US generics business in the first quarter of its FY22 financial, due to price erosion stemming from increased competition. The company plans to launch four generics in the US in the coming quarter.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Indian firm Alembic Pharmaceuticals discussed the challenges ahead for its US generics business while revealing a dramatic uptick in non-US overseas markets during its FY2021 financial earnings call.
An new $2.1bn incentive scheme for formulations follows on from an earlier scheme for APIs in India. Experts weigh in on the likelihood of industry participation and whether this $3bn push will result in $41bn of incremental sales for the industry while strengthening supply chains in a post-COVID world.
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