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Generics Industry Experiences Extraordinary First Quarter Due To COVID-19 Crisis

Looking Ahead, Companies Predict Decline In Revenues

 
• By Akriti Seth

Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.  

Syringes
COVID-19 boosted sales for generics companies in the first quarter of 2020 • Source: Shutterstock

The global generics industry saw unexpected growth in the first quarter of 2020, with increases in sales seen mainly due to stockpiling and the hoarding phenomenon induced by the coronavirus crisis, as well as advance prescribing. As a result, many companies were able to achieve, or even surpass, their set targets for the quarter.

However, the recurrence of this overwhelmingly successful financial quarter seems unrealistic to most generics companies, as they predict that sales will drop or level off in the coming months

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