They work with healthcare professionals, governments, and local communities all around the world to support and expand access to safe, affordable healthcare. Developed Markets, Greater China, JANZ, and Emerging Markets are just a few of the markets and geographies covered by Viatris. This strategy represents the Company’s commitment to making its large and diverse portfolio of branded, complicated generics, and generic medicines available to people in markets around the world. The Emerging Markets sector includes the Company’s ARV franchise as well as activities in countries with developing markets and emerging economies, including Asia, the Middle East, South, and Central America, Africa, and Eastern Europe. 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 Inven you’ll also get to know the company’s:
- Sandoz (Novartis) Sandoz, a division of Novartis, stands as a leading global player in generic pharmaceuticals and biosimilars.
- Amneal Pharmaceuticals is a pharmaceutical company that specializes in the development and production of essential medicines.
- Their crucial role lies in providing quality treatment at reduced costs, vital for the efficiency of healthcare systems.
- Pfizer Inc., a leading global pharmaceutical company founded in 1849, has a prominent presence in the generic drug market.
- As aleading global generic pharmaceutical enterprise, it facilitates access tomedical treatments through its extensive portfolio exceeding 1,000 productsspanning various therapeutic categories.
This strategic diversification strengthens India’s position in the global pharmaceutical market. 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 economic viability becomes particularly vital in regions where financial limitations frequently impede the availability of critical, life-saving medications.
The Importance of Generics in Emerging Markets
These are long-term illnesses caused by genetic, environmental, behavioral, and psychological factors. 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.
Amriya for Pharmaceutical Industries S.A.E
Given their portfolios and footprints, these five companies – Cipla, Hikma, Sun Pharma, Teva and Viatris – can have a huge impact on access in LMICs. They can now work to significantly enhance their efforts by acting on the opportunities and the tailored recommendations set out in their respective company profiles. The report highlights untapped potential for companies to register more essential products in low- and middle-income countries (LMICs). Promisingly, in 90 out of 108 countries in scope, at least one company has registered a product, which indicates that the companies’ existing regulatory reach in LMICs is collectively broad. In March 1996, Ciba-Geigy and Sandoz merged, forming Novartis, a separate company with pharmaceutical and agrochemical operations.
Top 17 Leading Generic Drugs Companies Worldwide
Among the premier companies in the Generic Drugs sub-industry are ABC Pharmaceuticals, XYZ Pharmaceuticals, and PQR Healthcare. These companies have established themselves as leaders in the production and distribution of generic drugs. With their extensive product portfolios and global reach, they have gained the trust of healthcare professionals and patients alike. The pharmaceutical industry plays a critical role in the worldwide economy, providing essential medications to people around the globe.
Despite initiatives to strengthen manufacturing, further efforts needed to safeguard product availability
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. Currently ranked 3rd globally in pharmaceutical production by volume and 14th by value, India commands a 20% share in global generic medicine supply and dominates vaccine manufacturing with a 60% market share. The generics industry is positioned to enhance access to essential health products in low- and middle-income countries.
#23 Perrigo Company Plc
Growth within the generic drug sub-sector will be mainly supported by increased volume consumption, driven by rising medicine demand and cost-containment measures, such as centralised drug procurement programmes encouraged by regulatory authorities. The ongoing expansion of drugs available to China’s public health insurance fund will also promote growth in generics domestically. We anticipate growth for generics in all global regions in 2024, with growth outside of China being led by the US, India, Italy and Germany in absolute value terms. The global demand for generics will continue to rise, as the global burden of disease also increases. This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region.
Top 27 Manufacturers of Quality Road Bikes
Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community. Aurobindo Pharma has established itself as a significant player in the global generic drug market with a substantial presence in critical markets worldwide, including the United States and Europe. SunPharmaceutical Industries Limited is a publicly listed corporation incorporatedand headquartered in India, with its registered office located in Vadodara,Gujarat, India. The company is primarily involved in the manufacturing,development, and marketing of a broad spectrum of branded and genericformulations, as well as Active Pharmaceutical Ingredients (APIs). Sun Pharmaranks as the fourth largest specialty generic pharmaceutical company globally,boasting revenues of USD 5.4 billion. With a robust network of 43 manufacturingfacilities, the company delivers high-quality, cost-effective medicationstrusted by healthcare professionals and patients across more than 100 countriesworldwide.
High-Quality Generic Drugs: Role Of Indian Pharmaceutical Companies In Improving Healthcare Access Worldwide
In 2023, notable additions included the anticoagulant apixaban, thediabetes medication sitagliptin, and the analgesic tapentadol. Additionally,launches encompassed tacrolimus for immune system suppression post-organtransplantation and sugammadex for reversing the effects of muscle relaxants,reflecting STADA’s unwavering commitment to innovation and patient well-being. Inthe European market, Aurobindo Pharma Limited maintains a robust presenceacross 10 countries, boasting fully operational pharmacies, hospitalfacilities, and a comprehensive infrastructure for tender sales. It ranks amongthe top ten generic companies in eight countries, including four of the topfive EU nations. 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, the company launched Vasopressin, acardiovascular medication available in single-dose vials.
New Markets New Geographies Competition
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. Another prominent Indian pharmaceutical company, Dr. Reddy’s Laboratories is a leading player in the global generics market.
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.
Abbott [Annual Revenue: USD 40.108 Billion]
The Established Pharmaceutical Products segment encompasses a broad range of branded generic medications made around the world and marketed and sold in emerging markets outside of the United States. Depending on the market covered, Abbott-owned distribution centers and public warehouses sell these items directly to wholesalers, distributors, government agencies, health care facilities, pharmacies, and independent retailers. Certain products are co-marketed or co-promoted with other companies or are licensed from them. Oxialfarm is a pharmaceutical company based in Ecuador that specializes in the production of retroviral medications. With over 10 years of experience, they are the first Ecuadorian company to produce retroviral drugs in the country. Their commitment to quality is evident in their efforts to provide top-notch products and services, excellent customer care, and responsible practices that mitigate environmental impact.
- 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.
- The global pharmaceutical industry faces a significant challenge in ensuring access to essential medicines, particularly in emerging markets where affordability and availability are major concerns.
- Operating primarily under a business-to-business model, they have a track record of delivering long-term value to employees, shareholders, and investors.
- These companies offer a wide range of generic drugs across various therapeutic areas such as cardiovascular health, respiratory health, and more.
- With over 20 years of experience, GALPHARMA is dedicated to providing high-quality medications across various therapeutic classes to meet the daily needs of patients with acute and chronic illnesses.
Viatris seeks to provide improved access to inexpensive, high-quality medications for patients worldwide, regardless of region or circumstance, by combining the assets of these two businesses. Laurus Labs is an innovative company with world-class research capabilities, specializing in the manufacturing and marketing of pharmaceutical products. Laurus Labs is committed to developing new cures, building a profitable business, and improving the quality of life through affordable medicines. The success of these top companies can be attributed to several shared elements and approaches. Firstly, they have invested heavily in research and development, constantly striving to bring new and improved generic drugs to the market.
Reduction In US Foreign Aid To SSA Would Impact Humanitarian And Health Sectors
Sun Pharmaceutical Industries Limited is a Mumbai-based Indian multinational pharmaceutical firm that develops and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. Psychiatry, anti-infectives, neurology, cardiology, orthopedics, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental, and nutrition are among the therapeutic categories covered by the goods. Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol. Viatris has over 1,400 approved compounds across a broad spectrum of therapeutic areas, including globally renowned iconic and key brands, generics, complex generics, and biosimilars. Viatris manufactures oral solid dosages, injectable, complicated dosage forms, and APIs at roughly 50 manufacturing sites across the world. Viatris is based in Pittsburgh, Pennsylvania, with global offices in Shanghai, China, and Hyderabad, India.
Global Generic Drugs Market Size
- Generic drugs first appeared in 1984, when the Hatch-Waxman Act encouraged the manufacture of generic drugs and developed system regulation.
- Firstly, they have invested heavily in research and development, constantly striving to bring new and improved generic drugs to the market.
- The industry’s expansion goes beyond generic drug manufacturing, with Indian pharmaceutical companies increasingly emphasizing innovation, novel drug development, and substantial investments in biopharmaceuticals and biosimilar research.
- Moreover, the FDA has taken a crucial step toward easing the entry of generic medicines into the market by introducing generic competition to the level of branded medicines known as complex drugs.
- Thecompany exhibits a robust presence in intricate generics such as injectablesand respiratory inhalers.
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. The export of generic medicines enables countries to share their pharmaceutical resources and expertise with others. Disparities in disease sunitinib price in malaysia prevalence between developed and developing countries can result in gaps in the utilization of specialty medicines. Generic medications emerge as a solution to bridge these discrepancies, offering more affordable and accessible treatment options. Projected to reach $65 billion by 2024 and $130 billion by 2030, India’s pharmaceutical sector demonstrates significant growth potential from its current $50 billion valuation.
- Notably,in the Generics segment, STADA introduced Sugammadex, Fampridin, and Apixabanin 2023, providing healthcare practitioners and patients with additionaltherapeutic options.
- In November 2023, US President Joe Biden announced a strategic pivot towards reducing dependence on foreign-made drugs and Active Pharmaceutical Ingredients (APIs), highlighted by a USD35mn investment in domestic API production.
- Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic.
- Additionally, the company expanded its portfolio through theacquisition of the US generic prescription product portfolio of Australia-basedMayne Pharma Group Limited.
With exports to over 200 countries, India fulfills crucial global medicine needs, serving as a key healthcare provider. For the very first time, we’re shining a spotlight on the actions, efforts, and commitments of leading generic and biosimilar medicine manufacturers to broaden access to lifesaving medicines in LMICs. For these ten assessed products per company – 50 overall – the analysis found that companies had strategies in place to expand access to 41 of them. However, these strategies are very limited in scope and especially do not address affordability considerations for the poorest patients, including those who are uninsured and must pay out-of-pocket for medicine.
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. By establishing a presence in diverse markets, they contribute to healthcare access and the overall economic development of their regions.
The government’s involvement is essential in facilitating the export of generic medicines through policies and laws that promote competition and ensure affordability. 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. Additionally, governmental policies aim to streamline access to generic medicines, promote their use, reduce healthcare costs, and ensure affordability for all. Generic medicines play a crucial role in bridging healthcare gaps on a global scale by providing affordable and accessible healthcare solutions. 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.
Encouragingly, the report found strong examples of how companies are engaging in adaptive R&D to tailoring products to the needs of people in LMICs, with nine adaptive R&D projects identified among the companies in scope. These include products specifically adapted for children; products adapted so that they do not require refrigeration; and formulations that simplify dosing regimens. BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype. Beyond his professional achievements, Anil is deeply passionate about the intersection of technology and healthcare. He is committed to staying at the forefront of industry innovations, ensuring that his work consistently exceeds client expectations.
They offer a wide range of products including generic drugs, biosimilars, and active ingredients. They offer a wide range of generic drugs with the same active ingredient, concentration, pharmaceutical form, and therapeutic indication as the innovator drug. Geolab is committed to providing affordable and high-quality medications to improve people’s health and well-being. Ciplais a global pharmaceutical enterprise deeply committed to enhancingaccessibility and affordability of medications for individuals in need. Itsdiverse product portfolio encompasses complex generics and medicationstargeting respiratory, anti-retroviral, urology, cardiology, anti-infective,CNS, and various other critical therapeutic segments.
The FDA generic drug program conducts a thorough review before approving the medicines to ensure they meet these requirements. In the event of negative reactions or patient side effects resulting in the report, the FDA investigates and makes required changes in the usage and manufacturing of these medicines. These medicines cost less than branded medicines as they do not involve repeated animal and clinical studies required for branded medicines. However, the issue of these medicines in certain countries is about something other than being expensive but about dubious quality.
With the prevalence of T2D increasing globally, the demand for effective and affordable treatments is expected to rise, creating a sizeable market for generics. When it comes to expanding access to medicine, the power of the generics industry is often underestimated. It’s more than the transactional relationship of selling drugs at volume and competing on price.