Generic Drugs Key Themes For 2024: Drug Shortages, Patent Cliffs And National Incentives To Impact Global Market

Hisun Pharmaceutical is a comprehensive pharmaceutical enterprise that specializes in the research, development, production, and sales of innovative drugs, biological drugs, and generic drugs. With a portfolio covering various therapeutic areas including anti-tumor, anti-infection, and cardiovascular, Hisun Pharmaceutical is dedicated to delivering world-class quality medications and making crucial contributions to human life and health. The generic drugs industry has a profound influence on various sectors, including healthcare, insurance, and consumer spending. By offering lower-cost alternatives to expensive medications, it helps reduce healthcare costs and improves accessibility for patients.

Tabuk Pharmaceuticals Manufacturing Company

The Indian pharmaceutical industry has invested significantly in research and development (R&D) activities, creating innovative generic drugs. This focus on innovation has resulted in the development of complex generics and biosimilars, addressing unmet medical needs globally. As Indian companies continue to invest in R&D, they are poised to play an even more substantial role in shaping the future of the global pharmaceutical landscape. Indian pharmaceutical companies are not merely suppliers of generic drugs but have also become significant players in the global pharmaceutical market. These firms are expanding their global footprint through strategic partnerships, acquisitions, and collaborations.

The Evolution Of The Indian Pharma Industry

By establishing a presence in diverse markets, they contribute to healthcare access and the overall economic development of their regions. With over 5 decades of experience, we are actively involved in the development, manufacturing, and marketing of branded generic pharmaceutical products. Our mission is to spread smiles across communities by enhancing access to a better healthcare system through our innovative products and services. Orion is a pharmaceutical company that offers a wide range of generic prescription drugs, self-care products, and innovative medicines. They specialize in the development, manufacturing, and marketing of high-quality pharmaceuticals for various medical conditions.

Key Companies in the Generic Drug Market

The Indian pharmaceutical industry has swiftly ascended to global prominence, establishing itself as a primary hub for the manufacturing and export of generic medicines. As a generic medicine supplier, this achievement has earned it the distinguished title of the “pharmacy of the world.” The industry’s remarkable growth can be attributed to various pivotal factors and compelling statistics. Global Pharma is a leading generics partner in the region, specializing in the production of medicines and herbal remedies. With a manufacturing facility in Dubai Investment Park, the company has an extensive product range that covers various therapeutic areas. They work closely with healthcare professionals to understand their needs and offer support programs for better patient management. Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024.

What was the value of the global generic drugs market in 2023

Linz Pharmaceuticals is a company specializing in the production and distribution of generic pharmaceutical products. They offer a range of medications for various therapeutic groups, including anti-infectives and systemic treatments. With their online distribution system and distribution portal, they provide 24/7 access to their products.

Mylan N.V. [Annual Revenue: USD 11.5 Billion]

This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region. Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs. With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market. They have also expanded internationally, with presence in 20 countries in Africa and the Middle East. Notable contributions include 40% of generics in the U.S., 25% in the U.K., 60% of global anti-retroviral drug supplies, and fulfilling 30% of UNICEF’s annual requirements.

• In addition, the absence of a standard drug regulatory body in certain countries leads to quality issues.
• Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals.
• The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base.
• The company develops and manufactures medications to treat cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, hematologic diseases, solid tumors, immune disorders, and infections.
• The cost-effectiveness of generic medications has increased demand for the generic drugs market.
• They offer a wide range of high-quality and affordable medicines for various therapeutic areas.

#21 Regeneron Pharmaceuticals, Inc

Gabapentin is already available in other generic forms, but the specific release characteristics and dosing regimen of Gralise are protected by patents. Once these patents expire and if any market exclusivity periods have lapsed, other companies can produce generic versions of this particular formulation, potentially leading to price reductions and increased accessibility for patients. The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans.

Hetero Drugs Ltd

Generic medicine manufacturers can develop business models prioritizing long-term sustainability, and balancing commercial viability with approaches that increase access to medicines. Discover the top 20 fine chemicals companies offering tailored solutions for pharmaceuticals, crop protection, and specialty polymers. Depending on the market covered, sales are conducted directly to customers or through distributors outside of the United States. IMARC Group is a leading market research company dedicated to providing data-driven insights and expert consulting services to support businesses in achieving their strategic objectives across diverse industries. Anushka Bhattacharya is an editor and content writer for a market research and business consultancy company, IMARC Services Pvt.

World’s Prominent Companies Offering Generic Drug; Top 10 by Revenue

The company is firmly committed to adhering to regulatory compliance requirements in different markets, which has facilitated its expansion into new markets and bolstered its business growth. Latin America is anticipated to hold a considerable share of the worldwide market during the forecast period. Healthcare costs are growing significantly, making it difficult for people to afford quality healthcare. Due to this, the demand for affordable healthcare is growing in the Latin American region, driving the generic drugs market in Latin America as these drugs are an effective alternative to branded drugs.

SEGMENTAL ANALYSIS

This blog post will discuss the importance of generic medicines in addressing healthcare disparities and their potential to improve health outcomes worldwide. Alkem Labs is a pharmaceutical company that specializes in cardiovascular health, dyslipidemia, and hypertension. With a global presence in markets such as Africa, Philippines, and Kazakhstan, Alkem Labs aims to provide innovative healthcare solutions through their technologically advanced research facilities. Neo Química is a pharmaceutical company that offers a wide range of generic medicines and healthcare products.

• Abbott, founded in 1888, is a global healthcare company renowned for its generic drug division offering a broad range of pharmaceuticals across therapeutic areas like cardiovascular, CNS, and women’s health.
• Moreover, they have a strong focus on customer-centricity, prioritizing patient needs and delivering value through their generic drug offerings.
• Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry.
• Indian pharmaceutical companies have been instrumental in breaking down this barrier by producing generic drugs at a fraction of the cost of their branded equivalents.
• Renowned for its expansive portfolio of high-quality and affordable generic medications, the company has firmly established its presence in Europe, the United States, and Japan.
• The high cost of branded medicines has been a significant barrier to healthcare access, especially in developing nations.
• With a steadfast focus onresearch and development, as well as a commitment to meeting the evolvinghealthcare needs of diverse populations, these industry leaders are poised tocontinue driving advancements and shaping the future of generic drugmanufacturing.

Pfizer’s generic drug portfolio includes a diverse range of products across various therapeutic areas, including cardiovascular disease, pain management, and central nervous system disorders. As a result of its research and development capabilities, Pfizer’s generic drug strategy primarily focuses on developing and marketing generic versions of its own branded drugs. This strategy enables Pfizer to maintain a strong foothold in the generic drug market while also protecting its revenue streams from branded drugs that come off-patent. The company operates in more than 175 countries worldwide and some of the key markets include the United States, Canada, the United Kingdom, Germany, Japan, China, Brazil, and Australia. Teva Pharmaceuticals Industries Ltd. is a well-known brand in the pharmaceutical industry and is recognized for its quality generic drugs that are affordable, making them accessible to a larger patient population, especially in developing countries. As a manufacturer of generic drugs, Teva has an extensive product portfolio covering a variety of therapeutic areas, such as central nervous system disorders, respiratory diseases, cardiovascular diseases, and oncology.

• Beyond his professional achievements, Anil is deeply passionate about the intersection of technology and healthcare.
• Generic drugs are medicinal products that can be manufactured and marketed by entities other than the innovator company once the original patents have expired.
• Some of these products have been registered in very few LMICs, and analysis of the companies’ product registration practices in LMICs shows significant variation between companies.
• Compulsory licensing is a significant measure allowing the production and export of low-cost generic drugs by bypassing patent monopolies, especially crucial during public health crises like pandemics.
• The Sandoz Division of the corporation is a global leader in generic pharmaceuticals and biosimilars, pioneering unique techniques to help people access high-quality medications all around the world.
• The Indian pharmaceutical industry is a global leader, with the domestic market poised to reach US$ 65 billion by 2024 and an expected surge to US$ 130 billion by 2030.
• The company is firmly committed to adhering to regulatory compliance requirements in different markets, which has facilitated its expansion into new markets and bolstered its business growth.

Generics and biosimilars are crucial in providing affordable and effective treatments for various diseases. According to the World Health Organization (WHO), 90% of essential medicines are off-patent, allowing generic and biosimilar manufacturers to enter the market and develop these medicines at a lower cost, potentially introducing competition and increasing supply. This is particularly important in emerging markets, where access to affordable and effective medicines is limited, and communicable diseases remain significant public health concerns.

• Thisleads to increased competition in the market, driving down prices and expandingaccess to affordable healthcare options for consumers.
• Baxter International Inc. is a leading healthcare company renowned for its diverse portfolio of generic drugs, encompassing injectables, oral solid formulations, and essential pharmaceuticals across various therapeutic areas.
• With several thousand drugs, including generics, biosimilars, and over-the-counter products, the company offers a wide range of healthcare options.
• Teva Pharmaceuticals Industries Ltd. is a well-known brand in the pharmaceutical industry and is recognized for its quality generic drugs that are affordable, making them accessible to a larger patient population, especially in developing countries.
• Asthe 10th largest generics company in the United States, Sun Pharma possesses aformidable research and development infrastructure, equipped to developtechnologically advanced products in both generics and specialty segments.
• A key factor contributing to the expansion of the worldwidegeneric drugs market is the expiration of patents protecting brandedmedications.
• These companies have established themselves as leaders in the production and distribution of generic drugs.
• When it comes to expanding access to medicine, the power of the generics industry is often underestimated.

New Markets New Geographies Competition

Generic medications, being generally more economical than their branded counterparts, provide enhanced accessibility to a diverse patient demographic, notably benefiting those in low- and middle-income countries. These generic drugs present a financially prudent option, offering a cost-effective alternative for essential treatments, thereby expanding access to a wider population. This Abiraterone price in malaysia economic viability becomes particularly vital in regions where financial limitations frequently impede the availability of critical, life-saving medications. India excels in generic medicine production, commanding 20% of global supply and leading vaccine manufacturing. With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry.

The Role of Generic Medicines in Bridging Healthcare Gaps on a Global Scale

The National Health Mission (NHM) operates a free drug initiative aimed at supporting the provision of essential generic medications at no cost in public health facilities. In many emerging markets, our products are available under a brand name, such as Omez (Omeprazole), Nise (Nimesulide),Ketorol (Ketorolac Thromethamine), Stamlo (Amlodipine Besylate), Razo (Rabeprazole), among many others. Over the years, these brands have established themselves as leaders in their respective categories. Across the five companies, the report identifies wider findings related to affordability, product registration, supply, local availability, and adaptive R&D.

• Continuouslyexpanding its generic IV drug portfolio, Fresenius Kabi also introduced ZincSulfate, with one of its stock-keeping units earning a Competitive GenericTherapy (CGT) designation.
• Additionally, Fresenius Kabi implements several initiatives to reduce the impact of its operations on the environment.
• India has proactively implemented measures to ensure the quality and safety of pharmaceutical products.
• This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings.
• With their online distribution system and distribution portal, they provide 24/7 access to their products.
• With over 24,000 employees and presence in 155 countries, we strive to make affordable and accessible medicines available to everyone.
• Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue.

Global Healthcare: The Journey of Indian Generic Medicines to Worldwide Markets

The inception of generic medicine in India dates back to the post-independence era in 1947 when the pharmaceutical landscape was dominated by foreign companies, holding over 90% of the market share. Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history. Driven by Knowledge and Services, InviMeds to become essential to its customers by providing access to most advanced treatment medicines and related services to help improve people’s quality of life. Recent studies reveal concerning trends in the availability and pricing of generic drugs for Hepatitis B and C. Despite reduced pharmacy prices, out-of-pocket costs for entecavir, a generic Hepatitis B antiviral, increased for privately insured patients from 2014 to 2018. Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities.

[Ranking] TOP 25 Generic Drugs / Pharmaceuticals Companies Q3/2023

Non-communicable diseases (NCDs) such as cardiovascular disorders, chronic respiratory diseases such as COPD and asthma, malignancies, and diabetes are the most common. Rapid unplanned urbanization, globalization of unhealthy lifestyles, and an aging population drive these diseases. Chronic diseases necessitate long-term therapy and marketed medications are prohibitively costly.

Top 17 Leading Generic Drugs Companies Worldwide

GSK plc, or GlaxoSmithKline, a prominent global pharmaceutical company, has been a leader in innovation since its formation in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. Specializing in prescription medicines, vaccines, and consumer healthcare products, GSK offers a diverse portfolio spanning respiratory, HIV, oncology, and vaccines. A key factor contributing to the expansion of the worldwidegeneric drugs market is the expiration of patents protecting brandedmedications. When patents expire, generic drug manufacturers gain theopportunity to produce and market their versions of these medications. Thisleads to increased competition in the market, driving down prices and expandingaccess to affordable healthcare options for consumers. Besides, generic drugsare typically more affordable than their branded counterparts, making them anattractive option for both consumers and healthcare providers.