Access to high-quality generic medications continues to be a pivotal issue across the globe in 2024, with various regions deploying targeted strategies to overcome barriers to affordability and quality. Many patients in conflict zones and low-income countries have limited pharmaceutical manufacturing and are heavily reliant upon imports to access generics. Weak regulatory systems in many sub-Saharan African countries, lack of financing, and insufficient healthcare infrastructure impede access to quality generic medicines.
Keypoints
The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed. Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare. In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers. In addition to providing system-critical products and services for critical and chronically ill patients, the company has a strong distribution network, which allows it to efficiently distribute products worldwide. As part of its research and development efforts, Fresenius Kabi develops new generic drugs and pipeline products. Additionally, Fresenius Kabi implements several initiatives to reduce the impact of its operations on the environment.
Amneal Pharmaceuticals
- He excels at analysing complex market trends and producing comprehensive, actionable reports that help companies foster innovation and enhance end user experience.
- Sun Pharmaranks as the fourth largest specialty generic pharmaceutical company globally,boasting revenues of USD 5.4 billion.
- Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs.
- In India, for example, the ‘Pradhan Mantri Bharatiya Janaushadhi Pariyojana’ scheme is pivotal in the nation’s efforts to increase the domestic availability of low-cost generics.
- The generics industry plays a critical role in addressing this issue, offering cost-effective alternatives to branded medications.
- Qilu Pharma Spain is the European subsidiary of Qilu Pharmaceutical, one of the leading pharmaceutical companies in China.
- Thirdly, they have developed strong distribution networks, enabling them to reach diverse markets and provide affordable drugs to a wide range of customers.
These companies offer a wide range of generic drugs across various therapeutic areas such as cardiovascular health, respiratory health, and more. The industry is constantly evolving, driven by advancements in technology, increasing demand for affordable medications, and government policies aimed at promoting generic drug use. As the healthcare industry continues to prioritize cost-effective solutions, the generic drugs industry is likely to experience steady growth in the coming years. Sandoz Group AG is a leading global pharmaceutical company specializing in generic and biosimilar medicines.
- While generics share the same active pharmaceutical ingredient (API) as brand-name drugs, variations in characteristics such as formulation and packaging exist.
- They have a strong focus on healthcare innovation and improving access to life-saving treatments.
- 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.
- The APAC market held the second-largest worldwide market share in 2023, falling right behind North America.
- In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers.
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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 ribociclib price uk 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.
High-Quality Generic Drugs: Role Of Indian Pharmaceutical Companies In Improving Healthcare Access Worldwide
This article explores the role of generics in expanding access to medicines in emerging markets, highlighting the challenges and opportunities that exist. The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal. Their commitment to producing affordable medicines without compromising quality has reshaped the global pharmaceutical landscape. As these companies continue to innovate, collaborate, and expand their reach, the future promises a more accessible and equitable healthcare system worldwide. The journey of Indian pharmaceutical companies exemplifies a synergistic blend of economic viability and social responsibility, positioning them as true leaders in the pursuit of global health equity.
- While primarily focused on branded pharmaceuticals, through its subsidiary Elanco Animal Health, Lilly also offers generic animal health products, emphasizing quality and accessibility.
- Recent studies reveal concerning trends in the availability and pricing of generic drugs for Hepatitis B and C.
- 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.
- The quality issues of generic drugs are another significant challenge to the global market growth.
- With over 5 decades of experience, we are actively involved in the development, manufacturing, and marketing of branded generic pharmaceutical products.
- If you want to find more companies that offer a diverse range of generic pharmaceutical products you can doso with Inven.
- They specialize in research, development, manufacturing, and marketing of generic and biosimilar medications in various therapeutic areas.
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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.
Top 28 Firms in Generic Drug Production
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.
Sandoz
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.
#21 Regeneron Pharmaceuticals, Inc
Secondly, they have built robust manufacturing capabilities, ensuring high-quality and cost-effective production. Thirdly, they have developed strong distribution networks, enabling them to reach diverse markets and provide affordable drugs to a wide range of customers. The analysis of the top companies in the Generic Drugs sub-industry has revealed some interesting findings. The rankings show that the leading companies in this sector are experiencing significant growth and success. These companies have achieved remarkable accomplishments in terms of revenue, market share, and innovation. They have emerged as the key players in the pharmaceutical industry, contributing to the availability and affordability of generic drugs worldwide.
#3 Novartis AG
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. This cost-effectiveness is a boon for developing countries and healthcare systems in developed nations striving to contain rising healthcare expenditures. Anticipating significant growth by 2030, the Indian generic medicine industry is driven by factors such as increased demand for affordable medicines, a growing geriatric population, and a skilled workforce.
Mylan N.V. [Annual Revenue: USD 11.5 Billion]
They have a strong focus on healthcare innovation and improving access to life-saving treatments. 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.
- Future growth and expansion of the industry are projected due to factors such as growing drug patent expiracies and an increasing emphasis on cost-effective healthcare solutions.
- They offer a wide range of generic drugs and steroids, including Carbamazepine, Cefixime, and Betamethasone Sodium Phosphate.
- Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue.
- 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.
- This growth is anticipated to be particularly strong in the Asia-Pacific (APAC) region (10% in 2024 to USD246bn), led by Mainland China and supported by wider demographic shifts and economic growth.
- Linz Pharmaceuticals is a company specializing in the production and distribution of generic pharmaceutical products.
- By addressing the challenges and seizing the opportunities, generic medicine manufacturers can ensure that high-quality, safe, and effective medications are available to those who need them most.
- According to market research, the global generic drugs market is projected to reach a value of $380 billion by 2025, reflecting its upward trajectory and economic magnitude.
- They have emerged as the key players in the pharmaceutical industry, contributing to the availability and affordability of generic drugs worldwide.
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.
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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.
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Low-income countries across various regions, including parts of Asia and Latin America, struggle with access to generics due to high out-of-pocket costs for patients, tariffs on imported medicines, and limited availability of essential drugs. We anticipate that new regional and national initiatives will be developed, targeting improving regulatory capacities, establishing better procurement practices, negotiating price reductions, and encouraging local production of generic medicines. 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.
Beximco Pharmaceuticals Ltd.
Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024. 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. We expect a positive impact for both patients and healthcare providers, as the lower cost could facilitate treatment adherence and reduce the financial burden on individuals and insurance systems. China will retain the largest proportion of generic drug sales through to 2030, at around 70% of the APAC region.
Their responsibilities include compliance with health, safety, and regulatory standards, and ensuring the efficacy and quality of the products. The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs. Future growth and expansion of the industry are projected due to factors such as growing drug patent expiracies and an increasing emphasis on cost-effective healthcare solutions. The generic drugs industry is a sector that focuses on the production and distribution of medications that are bioequivalent to brand-name drugs but are sold under their generic names. There are several types of companies in this industry, including large multinational pharmaceutical companies, smaller local manufacturers, and distributors.
The Role of Generic Medicines in Bridging Healthcare Gaps on a Global Scale
- Operating primarily under a business-to-business model, they have a track record of delivering long-term value to employees, shareholders, and investors.
- Teva Pharmaceutical Industries Ltd. is a global leader in generics and biopharmaceuticals, dedicated to improving the lives of patients worldwide.
- 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 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 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.
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.
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.
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.
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.