Towa’s New Overseas Business Boosted By COVID-19 Demand

Acquired Pensa Investment Assets

Japan’s Towa Pharmaceutical endured a mixed financial first quarter, seeing the April round of Japanese National Health Insurance pricing measures bite into domestic sales while its new overseas business thrived as COVID-19 pushed up demand.

Japan - Spain
Towa's new overseas business overachieved for both net sales and operating profit • Source: Shutterstock

Towa Pharmaceutical Co. Ltd’s. purchase of the Pensa Investments generics business from Spain’s Esteve exceeded expectations in the Japanese firm’s financial first quarter ended 30 June, overachieving for both net sales and operating profit in the wake of the COVID-19 pandemic.

Net sales of ¥9.96bn ($93.9m) for the international business were “above plan due to increased demand for pharmaceuticals as a...

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