Its generic offerings span various therapeuticdomains, including cardiovascular, central nervous system, oncology, infectiousdiseases, pain management, and respiratory ailments. Notably, Sandoz holds aleading global position in generic antibiotics, uniquely positioned with alarge-scale vertically integrated business headquartered in Europe. It offers an extensive portfolio comprising around 500 genericprescription products, spanning over 1,400 variations in dosage strengths,packaging sizes, and formulations. Its offerings encompass a diverse range oforal solid dosage forms, injectables, inhalants, transdermal patches, liquids,ointments, and creams.
Gland Pharma Limited
However, the issue of these medicines in certain countries is about something other than being expensive but about dubious quality. 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.
- Laurus Labs is an innovative company with world-class research capabilities, specializing in the manufacturing and marketing of pharmaceutical products.
- They specialize in pharmaceutical trading, contract development and manufacturing, and pharmacovigilance.
- Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs.
- This not only enhances healthcare accessibility butalso facilitates resource allocation, leading to an estimated annual socialimpact of around USD 400 billion worldwide.
- Countries such as India and China in the Asia-Pacific region dominated the global generic drugs business in volume.
- These generic drugs present a financially prudent option, offering a cost-effective alternative for essential treatments, thereby expanding access to a wider population.
Why are generics so critical to expanding access to medicine?
Cardiology, psychiatry, neurology, gastroenterology, ophthalmology, and psychiatry are some of the therapeutic areas where the company is a significant player. With operations in over 100 countries, Sun Pharma is a global company, with a well-positioned presence in markets, such as the United States, Europe, Japan, and India. Apotex is a global pharmaceutical company that offers a wide range of generic and over-the-counter medications.
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- 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.
- Also, the FDA’s Office of Generic Drugs (OGD) gained huge success after implementing the Generic Drug User Fee Amendments Reauthorization (GDUFA II) in the first year.
- As a leading global medicines company, they use innovative science and digital technologies to create transformative treatments in areas of great medical need.
- 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.
- Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US.
- They offer a wide range of medications, including generic and branded drugs, as well as contract manufacturing services for other pharmaceutical companies.
- The government’s involvement is essential in facilitating the export of generic medicines through policies and laws that promote competition and ensure affordability.
Top 28 Firms in Generic Drug Production
Generic drugs sales are facing increasing challenges in the US, mainly due to pricing pressures. Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls. This has led many US and foreign generic drug companies to lower their expectations for growth in the US. Consequently, low-cost generics from India and China will remain in high demand from the US until sufficient subsidies or alternative support for domestic generic drugs production expansion are offered. Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US. According to the FDA, India is the second-largest provider of finished dose pharmaceuticals to the US, and accounts for nearly 20% of the global exports of generics.
Amneal Pharmaceuticals
As aleading global generic pharmaceutical enterprise, it facilitates access tomedical treatments through its extensive portfolio exceeding 1,000 productsspanning various therapeutic categories. Proactive implementation of quality control measures, including adherence to good manufacturing practices (GMP) and stringent quality checks, ensures the safety and efficacy of Indian generic medicines. As a key player in generic medicine supply, India consistently upholds high standards in pharmaceutical production. Generic medicines, synonymous with cost-effectiveness, emerge as pharmaceutical counterparts to brand-name drugs. Their crucial role lies in providing quality treatment at reduced costs, vital for the efficiency of healthcare systems. Efforts to educate patients and healthcare providers about the benefits of generic medicines can address the preference for branded medications and lack of knowledge, increasing their usage.
Top 17 Cutting-Edge Healthcare Diagnostics Companies
With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry. Producing 60,000 generic brands across 60 categories, India meets substantial global demand and provides affordable HIV treatment. Generic drugs first appeared in 1984, when the Hatch-Waxman Act encouraged the manufacture of generic drugs and developed system regulation. In contrast to branded products, generic drugs have the same API pharmacokinetic and pharmacodynamic properties. It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor. 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.
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With a focus on affordability and accessibility, Mylan expanded its reach worldwide, particularly in emerging markets. In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence. Aspen Pharmacare Holdings Ltd (Aspen) is a prominent supplier of specialty and generic pharmaceuticals for the treatment of various acute and chronic ailments. Aspen Pharmacare has a robust quality management system and adheres to strict regulatory compliance standards and is approved by multiple regulatory agencies on a global level. Aspen’s generic drugs provide a cost-effective option for patients, thereby enhancing accessibility to its products for a broader population, particularly in emerging markets.
Global – Regional Generic Drug Sales, CAGR USDbn (2020-
The generic pharmaceuticals industry is a sector that focuses on the development, manufacture, and sale of generic drugs. Generic drugs are medications that have the same active ingredients as brand-name drugs, but are typically sold at a lower price. This industry is crucial in providing affordable healthcare options to patients around the world.Within this industry, there are various companies that specialize in producing and distributing generic medications. These companies play a vital role in ensuring the availability of cost-effective alternatives to brand-name drugs. As healthcare costs continue to rise, the industry is expected to continue expanding in order to meet the needs of patients and healthcare providers. The industry is also witnessing advancements in manufacturing techniques and the introduction of biosimilar products, further contributing to its growth.
Intas Pharmaceuticals
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.
Access to Medicine Foundation
The global generic drugs market is forecasted to generate $404.3 billion in revenue in 2022, with an estimated compound annual growth rate of 7.20% until 2030, reaching $705.1 billion. In the dynamic landscape of healthcare, the demand for accessible and cost-effective medications is more pronounced than ever before. A significant player in this realm is the global market for generic drugs — a sphere that has witnessed remarkable growth and transformation in recent years.
Teva Argentina is a leading pharmaceutical laboratory that develops and produces high-quality medications to improve the lives of patients and their communities. Committed to health, Teva is a global leader in generic and specialty medicines across various therapeutic areas. Sandoz is a pharmaceutical company that focuses on prescription and over-the-counter medicines.
- With 40 manufacturing facilities, Mylan produces complex dosage forms, injectables, solid dosages, and active pharmaceutical ingredients, along with an industry-leading pipeline that includes several complex generics and global key brands.
- 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.
- Specializing in affordable alternatives to brand-name medications, Teva offers a diverse portfolio covering various therapeutic areas.
- Sun Pharma is a global pharmaceutical company committed to conducting business with the highest standards of professional integrity and ethical behavior.
- With their commitment to quality and the use of modern knowledge, Alborz Bulk aims to become a leading player in the pharmaceutical industry and achieve self-sufficiency in the national economy.
- 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.
- Cardiology, psychiatry, neurology, gastroenterology, ophthalmology, and psychiatry are some of the therapeutic areas where the company is a significant player.
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.
#17 Takeda Pharmaceutical Co., Ltd
- They specialize in modified-release oral solid dosage forms and alternative drug delivery platforms such as nasal sprays and patches.
- Despite this potential, generic and biosimilar medicines remain out of reach for many in LMICs, particularly vulnerable populations and those living in low-income countries.
- Founded in 1983, Sun Pharmaceutical Industries Ltd. (Sun Pharma) is one of the world’s largest specialty generic pharmaceutical companies with over 40 manufacturing facilities.
- They work to promote wellness, prevention, treatments, and cures for the world’s most feared diseases in developed and emerging economies.
- 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.
- In addition, the growing aging population in the European region supports regional market growth.
- Educating stakeholders on their benefits is crucial, and the generics industry holds a central position in improving access globally.
Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally. The company has a strong presence in various therapeutic segments and operates in numerous countries. Abbott Laboratories is a worldwide medical device and healthcare corporation based in Abbott Park, Illinois, United States. Abbott’s main business is the research, development, manufacturing, and distribution of a wide range of healthcare products. Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices are the four reportable segments for Abbott.
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. 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.
Interviews with them, along with a retrospective study at Ruijin Hospital, showed no significant dosage changes before and after the bulk procurement program. This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources.
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.
Despite the dominance of a few major players, smaller companies are also making their mark in the generic drugs market. This indicates a dynamic and evolving landscape, with room for new entrants and innovative approaches. Moreover,STADA holds the distinction of being Europe’s fourth-largest manufacturer andsupplier of generic medicines by value, while also playing a pivotal role inselected markets worldwide. In Spain, for instance, the company unveiledAlmagato STADApharm in 2023, marking the debut of the first generic alternativeto the prominent Almax non-prescription heartburn and acid reflux brand. TheNorth America Generics (NAG) segment stands as Dr. Reddy’s largest market andachieved a milestone by surpassing the USD 1 billion revenue mark for thesecond consecutive year in 2023.
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.
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. Secondly, they have built robust manufacturing capabilities, ensuring high-quality and cost-effective production.
These are companies producing drugs that have exactly the same active ingredients as brand-name drugs, but are accessible at a fraction of the cost. Their responsibilities include compliance with health, safety, and regulatory Abiraterone price in malaysia 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.
Under this initiative, the government has set up thousands of Janaushadhi Kendras (generic drug stores) to ensure that citizens have access to a wide range of medications at a fraction of the branded drug cost. However, maintaining stringent quality control standards remains a key focus to foster trust and sustained use of these generics. We’re able to make these medicines affordable because we manage the entire value chain – from producing the active ingredients to developing formulations to distributing them through our streamlined supply chain. We leverage our inherent strength—one of the largest manufacturing bases in India—to provide a distinct cost advantage for our customers. Our in-depth knowledge of regulation and intellectual property also helps us to bring high-quality, regulatory-compliant medicines within reach of millions throughout the world. Many people throughout the world do not have access to good health because they can’t afford expensive medicines.
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. A global leader in the generics space, Teva boasts a massive portfolio of over 1,600 molecules across various therapeutic areas. Headquartered in Israel, the company holds the top spot in revenue and maintains a robust presence in both developed and emerging markets.
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.
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.
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. In the labyrinth of thepharmaceutical industry, where towering patents and complex research dominate,generic drug companies emerge as beacons of hope and equity. Unlike their brand-namecounterparts, generic drug manufacturers focus not on inventing new moleculesbut on replicating existing ones once patents expire.
Contributing significantly to India’s economy, the pharmaceutical industry is ranked 3rd worldwide in production volume and 14th by value. Projections indicate a soaring industry value of USD 130 billion by 2030, underlining its economic significance. Prioritizing long-term sustainability in business models ensures the widespread availability of essential treatments. Generics stand as pillars of global health, addressing challenges and fostering innovation for a more inclusive and sustainable healthcare future worldwide.