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Nichi-Iko Pledges Return To Form After Turbulent Financial Year

Japanese Firm Entered Dispute Resolution Procedure In March

 
• By Chloe Kent

Nichi-Iko experienced substantial losses over the financial year ended 31 March 2022, as one of many Japanese generics firms found to have been falling short on GMP since the beginning of 2021.

Hand placing brick into wall
Nichi-Iko is seeking to rebuild its business through the ADR process • Source: Shutterstock

Following a difficult year for the Japanese generics company, Nichi-Iko has said it aims to “revitalize and continue our business in the future and to drastically improve our financial position” after formally entering into a business turnaround alternative dispute resolution process. (Also see "Nichi-Iko Aims To Regroup As It Enters Turnaround Process" - Generics Bulletin, 25 May, 2022.)

The certified procedure allows Japanese companies to reach an agreement with its financial creditors out-of-court to avoid statutory insolvency proceedings

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