They offer a wide range of medications, including generic and branded drugs, as well as contract manufacturing services for other pharmaceutical companies. With a strong focus on quality and innovation, Hikma.com aims to improve global healthcare through their reliable and affordable solutions. The expiration of patents on many brand-name drugs has led to a surge in demand for generic alternatives due to their lower cost, particularly in addressing chronic diseases that account for a significant portion of global mortality. With only a fraction of prescriptions being for branded generics, the market is dominated by unbranded generic drugs, offering a cost-effective solution for patients. This demand is further fueled by investments in production and development, exemplified by initiatives like California’s partnership with Civica Rx to produce affordable insulin. Technological advancements such as biosimilar development and Artificial Intelligence (AI) are enhancing generic drug manufacturing processes, while partnerships between pharmaceutical companies, like CytoReason and Pfizer, are driving innovation.
Why are generics so critical to expanding access to medicine?
Branded drug manufacturers spend money on research and development and ads for their new products, and they are granted a monopoly for a set period. However, when a patent expires, manufacturers Abiraterone price philippines may ask the FDA for permission to produce generic drugs. Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic.
Which segment by application held the largest share in the generic drugs market?
In Europe, Freseniusswiftly introduced Sugammadex, a neuromuscular block reversal agent, to themarket upon patent expiry. The administration said claims suggesting the generic drug is less effective are based on personal experiences. The ongoing study centers on assessing the availability, affordability, and acceptability of essential medicines under the PMBJP initiative. Learn more about the BMI products and services that empower you to make critical business decisions with confidence.
About the Generic & Biosimilar Medicines Programme
- 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.
- The presence of notable generic drug manufacturers in Europe, such as Teva Pharmaceutical Industries Ltd., Mylan NV, and Novartis International AG, favors the growth of the generic drugs market.
- With rising healthcare costs and an aging population, the demand for generic pharmaceuticals is set to increase further, making the industry integral for global health in the foreseeable future.
- 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.
- Moreover, both the company’s North AmericaGenerics business and its Branded Generics segment in India and EmergingMarkets attained billion-dollar status for the second consecutive year inFY2023.
The cardiovascular segment is estimated to showcase a healthy CAGR during the forecast period. CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke. Moreover, the cardiovascular segment covers more than 6% of the global generic drug market due to a series of cardiovascular drug patent expiration. In addition, global population growth and aging benefit the healthcare sector and the manufacturers of generic drugs. Hetero.com is a pharmaceutical company that specializes in the research, development, and production of high-quality and affordable medicines.
Fitch Solutions Expands Global Footprint with New Warsaw Branch
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.
Access to Medicine Foundation
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.
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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.
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They started with the production of solid dosage forms and later expanded to other types of dosages. Their goal is to provide reliable and affordable pharmaceutical facilities to all types of customers. This is the first research report from the Generic & Biosimilar Medicines Programme, with analysis carried out using the Analytical Framework published in February 2023.
Sandoz
Eli Lilly and Company, founded in 1876, is a global pharmaceutical leader headquartered in Indianapolis, USA. Specializing in a wide range of therapeutic areas, including oncology, diabetes, and neuroscience, Lilly is renowned for pioneering breakthroughs such as the first commercially available insulin and innovative drugs like Cialis and Prozac. Recent developments include advancements in oncology with drugs like Verzenio, as well as ongoing research into Alzheimer’s treatments. While primarily focused on branded pharmaceuticals, through its subsidiary Elanco Animal Health, Lilly also offers generic animal health products, emphasizing quality and accessibility.
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- Hisun Pharmaceutical is a comprehensive pharmaceutical enterprise that specializes in the research, development, production, and sales of innovative drugs, biological drugs, and generic drugs.
- Depending on the market covered, sales are conducted directly to customers or through distributors outside of the United States.
- In South East Asia, Thailand has implemented the ‘National List of Essential Medicines’, which prioritises generics in government procurement and healthcare delivery, ensuring that the public healthcare system provides cost-effective treatment options.
- As these diverse initiatives unfold, they highlight a shared commitment to expanding the reach of high-quality generic medicines.
- Many blockbuster drugs have met their expiry in the European region in recent years, which has given the manufacturers of generic drugs a significant opportunity to grow.
- 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.
The issue of cheaper generics is grounded on measurable and enforceable assurance about quality through tests and other internationally mandated parameters. In addition, the absence of a standard drug regulatory body in certain countries leads to quality issues. Aurobindo is a global pharmaceutical company focused on the development and production of high-quality generic medicines. With over 24,000 employees and presence in 155 countries, we strive to make affordable and accessible medicines available to everyone. Qilu Pharma Spain is the European subsidiary of Qilu Pharmaceutical, one of the leading pharmaceutical companies in China. They specialize in research, development, manufacturing, and marketing of generic and biosimilar medications in various therapeutic areas.
In 2020, the company operated commercial activities with a global organization that included two businesses—Biopharma and Upjohn, which were each directed by a single manager until November 16, 2020. Pfizer concluded the spin-off and merging of the Upjohn Business with Mylan on November 16, 2020. The company currently operates as a focused innovative biopharmaceutical company engaged in the discovery, development, manufacturing, marketing, sales, and distribution of biopharmaceutical products around the world as a result of the combination. As a leading global medicines company, they use innovative science and digital technologies to create transformative treatments in areas of great medical need. In their quest to find new medicines, the company consistently rank among the world’s top companies investing in research and development.
Globalpharma LLC
They specialize in the research, development, manufacturing, and marketing of complex injectables. Operating primarily under a business-to-business model, they have a track record of delivering long-term value to employees, shareholders, and investors. With state-of-the-art facilities and a professional management team, Gland Pharma is one of the largest and fastest-growing generic injectables manufacturers. Tabuk Pharmaceuticals is a company that develops, manufactures, markets, and distributes branded and generic pharmaceutical products with a strong focus on the Middle East and North Africa.
- 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.
- As healthcare costs continue to rise, the industry is expected to continue expanding in order to meet the needs of patients and healthcare providers.
- Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry.
- They boast a diverse portfolio of over 1,400 molecules and maintain a strong presence in over 160 countries.
- Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option.
- In 2024, we expect key pharmaceutical companies to see patent expiries for their drugs, which will cause reduced revenue and an increase in generic manufacturing of these drugs and more competition.
- 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.
- The company offers a wide range of generic drugs for various ailments such as cardiovascular, central nervous system, and respiratory drugs.
With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners. The company values privacy and adheres to policies to ensure the security of their customers’ personal data. They specialize in the production of high-quality generic medications and contract manufacturing for other pharmaceutical companies. Recent trends in the generic drugs industry include increased consolidation among companies, with larger players acquiring smaller ones to expand their product portfolios. Additionally, breakthroughs in manufacturing processes and regulatory reforms have improved the efficiency and quality of generic drug production.
- 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.
- With state-of-the-art facilities and a professional management team, Gland Pharma is one of the largest and fastest-growing generic injectables manufacturers.
- 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 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.
- In2023, the company inaugurated its upgraded penicillin production facility, apivotal category within the global antibiotics market, in collaboration withthe Austrian government.
- They offer a portfolio of prescription and over-the-counter medications across various therapeutic areas.
- As Jayasree K. Iyer, CEO of the Access to Medicine Foundation, emphasized, “It is vitally important that all healthcare sectors address inequality and improve access, which we have articulated in our new Strategic Direction”.
- Emerging markets like India and China are supposed to generate more opportunities for the generic drugs market.
World’s Prominent Companies Offering Generic Drug; Top 10 by Revenue
With an extensive rangeof offerings, the company is focused on strengthening its presence in keydomestic markets such as India, alongside South Africa, North America, andother pivotal regulated and emerging markets. Operating across 47 manufacturingfacilities worldwide, Cipla produces over 50 dosage forms and more than 1,500generic products, catering to a broad spectrum of 85 markets. Furthermore, itholds a prominent position among the top ten generic players in the UnitedStates. While cost-effectiveness is critical, Indian pharmaceutical companies have not compromised quality. Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs. This commitment to quality ensures that patients worldwide can access affordable medicines without compromising safety or efficacy.
Top 28 Firms in Generic Drug Production
Broadly, all companies implement at least some strategies to promote a continuous supply of their products and mitigate the risk of shortages and stockouts, and to ensure the quality and safety of their marketed products. If you want to find more companies that develop, manufacture, and distribute cost-effective medications you can do so with Inven. Throughclose collaboration with a network of trusted partners in development,manufacturing, and distribution, STADA consistently enriches its Genericsportfolio.
Strategies for Expanding Access
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.
This initiative establishes dedicated outlets known as Janaushadhi Kendras, which provide generic medicines at economical rates, thereby enhancing accessibility to essential healthcare treatments. 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. While such policies have the potential to increase domestic production of essential medicines, it will not be sufficient to cover an increasing list of generics shortages. The global market for generic drugs is expected to grow from $435.3 billion in 2023 and projected to reach $655.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028.
Sandozboasts a diverse global portfolio comprising approximately 1,500 high-qualitybiosimilar and generic medications. Annually, it delivers over 800 milliontreatments to patients, resulting in over USD 18 billion in direct savingsacross the US and Europe. This not only enhances healthcare accessibility butalso facilitates resource allocation, leading to an estimated annual socialimpact of around USD 400 billion worldwide.
GALPHARMA is a pharmaceutical company based in Tunisia that specializes in the production of generic medications. 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. The landscape of the generic drugs industry is constantly evolving, driven by factors such as changing patent expirations, market demand, and advancements in technology. As a result, the industry is highly competitive, with numerous companies vying for market share and striving to deliver cost-effective medications to consumers. Cipla’sgenerics division has solidified its leadership in the trade generics sectorthrough continual expansion of its portfolio and efficient executionstrategies. This concerted effort has enabled the company to extend its reachto over 15,000 pin codes, ensuring access to quality medications for patientsin tier 2 cities and beyond.
They’re considered the most effective because the drug’s bioavailability is higher through this route than the others. The market in the Middle East and Africa is expected to hold a moderate share of the worldwide market during the forecast period. The rising number of improvements in the healthcare infrastructure and healthcare system of MEA countries is favoring the generic drugs market in MEA. In addition, increasing initiatives from the MEA countries favoring generic drugs support regional market growth. The APAC market held the second-largest worldwide market share in 2023, falling right behind North America.
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.
If you want to find more companies that offer a diverse range of generic pharmaceutical products you can doso with Inven. Teva Pharmaceutical Industries Ltd., also known as Teva Pharmaceuticals, is an Israeli pharmaceutical firm based in Petah Tikva. Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals. Teva Pharmaceuticals was the world’s second-largest generic medicine manufacturer and eighth-largest pharmaceutical firm in 2020. What sets these eminent companies apart from their industry rivals are their unique qualities. They have a deep understanding of regulatory frameworks and compliance requirements, allowing them to navigate complex approval processes smoothly.
Novartis products reach nearly 800 million people globally and they are finding innovative ways to expand access to their latest treatments. Natco Pharma is a pharmaceutical company that manufactures and markets affordable medicines worldwide. They focus on providing specialty medicines at accessible prices and adhere to global standards. Landsteiner is a pharmaceutical company with over 20 years of experience in the Mexican market. They specialize in the development, production, and commercialization of healthcare products, including generic and biotechnological medications. They offer a wide range of high-quality prescription and over-the-counter pharmaceutical products.