Tough Times Ahead For Towa As Japanese Generics Giant Slashes 2023 Predictions

Net Profits In Q2 Down Over 70%

 
• By Chloe Kent
  
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Towa has made substantial cuts to its 2023 financial guidance as the difficult conditions of the Japanese generics market begin to take their toll.

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Towa's expectations for the year ahead have taken a downward turn • Source: Shutterstock

Towa Pharmaceutical Co. Ltd. has slashed its full-year guidance for FY2023 amid a difficult environment for the Japanese generics market. Factors including a shortage of manufacturing employees, Japan’s National Health Insurance price reductions and restrictions on shipments of generic drug products have taken their toll on the firm, despite increased sales.

Compared to May’s predictions, the full-year operating profit outlook has been slashed 54.2% to ¥8.7bn ($61.4m), while ordinary profit has...

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