Nichi-Iko Pharmaceutical Co., Ltd.
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Latest From Nichi-Iko Pharmaceutical Co., Ltd.
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.
“The outlook remains uncertain,” one analyst has noted as troubled Japanese manufacturer Nichi-Iko published its nine-month financial results, even as the company’s domestic losses slowed down and its US Sagent unit improved its sales by double-digits.
Kobayashi Kako has agreed to transfer ownership of eight of its production, research and distribution facilities to Sawai, which will use them to expand the manufacturing of its own generics. Business was suspended at Kobayashi Kako for 116 days this year after the company’s manufacturing deficiencies were linked to two deaths.
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.
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- OTC, Consumer
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