Unfavorable drug price revisions to the Japanese National Health Insurance program implemented in October 2019 and April this year, coupled with restricted patient visits and business activities stemming from the COVID-19 pandemic, led Nichi-Iko Pharmaceutical Co., Ltd.’s group operating profit to nosedive by 86.1% to ¥523m ($5.1m) in the six months to 30 September.
Stripping out one-time expenses, namely ¥746m of voluntary recall costs, Nichi-Iko’s ‘core’ operating profit was still down almost two-thirds to ¥1
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