Chemiphar Profit Slumps 82.5% In Q3
Another Disappointing Quarter Lands Blow To Japanese Firm’s Post-COVID Recovery
Plummeting sales and profit following government price regulations pushes Chemiphar to target international expansion
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Three quarters of the way through its financial year, Sawai has half as much cash on its balance sheet as it did at the same stage in 2021/22, as the Japanese firm continues to be dogged by lower government-mandated prices and higher costs at home.
Japanese generics firm Towa has seen its profits slashed as increased expenses stemming from its acquisition of Sunsho Pharmaceutical decimated its bottom line in Q3.
The Japanese government will apply new drug reimbursement prices from 1 April, under which Pfizer’s Vyndaqel will be slashed by 75% and UCB's E Keppra by 26%. Nobelpharma and Santen will be also affected by the revision, which averages close to 7% across the board.