Apotex's U.S. Business Lags in Public Debut Amid Heightened Competition, Plant Pause -- Market Talk

Apotex's U.S. segment is a weak spot in its public market debut, as increased market competition and an operational plant pause weigh on revenue. Excluding last year's generic revlimid windfall, underlying U.S. sales slipped 8.6% to C$362.9 million, with the drop worsening to a steep 48.5% on a reported basis. Apotex cites fresh competition following lost exclusivities on key drugs including leukemia treatment nilotinib, alongside a temporary halt on U.S.-bound eye drop shipments for Richmond Hill plant remediation. CEO Jeff Watson says on the earnings call that the company expects to be ready for FDA re-inspection by the end of the calendar year. The U.S. performance contrasts with Canada's 11.5% sales rise. Shares are down 4.2% to C$35.13. (adriano.marchese@wsj.com)

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August 12, 2026 15:11 ET (19:11 GMT)