Japan Q3 Roundup: Majors Enjoy Forex Windfall But COVID Returns Decline
Mainstays Mostly Strong
While the weaker yen boosted the top line for Japanese pharma companies with a strong global presence in the fiscal first half, it also raised reported costs. Several firms reported strong growth for mainstays, while holding out high hopes for selected new drugs with blockbuster potential. But some other products underperformed for unexpected reasons.
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Japan has started the stepped reduction of reimbursement of COVID-19 drugs under its national health insurance scheme, aiming to lower this to standard levels by April 2024. Oral antiviral Xocova also looks set to receive a one-off special price cut, over which the local industry has expressed its concerns.
But the partners will have to avoid the pitfalls that have bedevilled several other expensive licensing deals.
The two firms will co-develop and co-commercialize three Daiichi ADCs globally outside Japan in a deal the Japanese firm said would allow “more aggressive development plans targeting broader patient populations.”