Jubilant Seeks To Transform Business As Generics Slide
Downwards Trends Spur Cost-Cutting, Geographic Shifts, And Leadership Change
Despite a quarter-on-quarter improvement, overall sales remain in the doldrums as Jubilant mounts a multi-pronged strategy to pull through the generics decline.
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While generic drug prices continued to erode in the US during the second quarter of FY23, compliance will be key to the performance of Indian firms such as Torrent and Jubilant through the rest of the year. The US FDA has issued multiple observations in 2022, but an import alert for Glenmark’s Baddi unit is the harshest so far.
Jubilant Pharmova is planning to transform its generics business with the appointment of a new managing director and CEO, after a difficult period for the unit that saw a tough Q1 amid ongoing difficulties linked to an import alert for its Roorkee manufacturing plant.
Revenue falls 33% over the half year for the ailing Australian pharmaceutical as it pivots from generics to the branded market