International Expansion Stays On Nichi-Iko’s Agenda As Sagent Struggles
Japan’s Nichi-Iko is looking to grow its overseas sales by around a fifth each year, even as its North American injectables affiliate Sagent struggles to move forward and to make a profit.
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Nichi-Iko and Eisai have announced plans to build on their Japanese generics collaboration by expanding the partnership into China.
An operating loss recorded by its US Sagent affiliate depressed Nichi-Iko’s group operating margin to just 3.7%, even though the Japanese generics specialist’s turnover increased by a tenth on strong domestic generics demand.
Nichi-Iko has started promoting the value-added portfolio of Eisai’s Elmed in Japan under a strategic alliance struck earlier this year that also includes Nichi-Iko acquiring all shares in Elmed by 1 April 2019. As part of the “phased acquisition” (Generics bulletin, 6 April 2018, page 3), Nichi-Iko said it had by 1 October acquired a third of stocks in Elmed for a total of ¥5.47 billion (US$48.7 million).