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. 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. Oxialfarm aims to contribute to the social and economic stability of its workforce and achieve significant growth in the local market.
Gland Pharma Limited
- In summary, generic medicines are indispensable for sustaining healthcare systems, especially in Europe where costs are rising.
- While cost-effectiveness is critical, Indian pharmaceutical companies have not compromised quality.
- Ayushman Bharat PM-JAY, the world’s largest health assurance scheme, provides Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization.
- 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.
- Torrent.com.br is a pharmaceutical company that specializes in the production and distribution of high-quality medications in areas such as cardiovascular and diabetes, central nervous system, and generics.
- SunPharmaceutical Industries Limited is a publicly listed corporation incorporatedand headquartered in India, with its registered office located in Vadodara,Gujarat, India.
- Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024.
They boast a diverse portfolio of over 1,400 molecules and maintain a strong presence in over 160 countries. Viatris’ focus on affordability and accessibility aligns well with the growing demand for 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.
Top 28 Firms in Generic Drug Production
Additionally, collaborative effortswith partners focus on novel and intricate products like the BOTOX®(onabotulinumtoxinA) biosimilar and Glatiramer Acetate Depot, a long-actinginjectable form of the approved glatiramer acetate. 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. 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.
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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.
Globalpharma LLC
If you want to find more companies that specialize in producing affordable generic medications you can do so with Inven. Ritedose is a leader in aseptic production of sterile, single-dose medication for the contract development manufacturing, generics, and 503B outsourcing markets. With over 27 years of experience, Ritedose has delivered more than 10 billion doses since 2012 without any interruptions, demonstrating a commitment to precision and reliability. Anushka Bhattacharya is an editor and content writer for a market research and business consultancy company, IMARC Services Pvt. Anushka holds a Master’s degree in Commerce and has been writing and editing long-form content for 4 years covering diverse business areas such as healthcare, digital marketing, sports equipment, home appliances, social media promotion, and clothing.
Generic Drugs Key Themes For 2024: Drug Shortages, Patent Cliffs And National Incentives To Impact Global Market
With a strong commitment to quality, accessibility, and affordability, Sandoz continues to drive innovation and improve healthcare outcomes worldwide. Pfizer Inc., a leading global pharmaceutical company founded in 1849, has a prominent presence in the generic drug market. Known for pioneering breakthrough medications like Viagra and Lipitor, Pfizer also offers a diverse portfolio of high-quality generic drugs across therapeutic areas such as cardiovascular, central nervous system, and respiratory diseases.
Novartis AG
It further underscores the company’saspiration to be recognized as the foremost global leader in biosimilars andgenerics, valued for its commitment and excellence. Among the five companies, a handful of initiatives to bolster local manufacturing capacity in LMICs or facilitate technology transfer to local partners could be identified. 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. BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports.
- Any comments or data included in the report are solely derived from BMI and independent sources.
- 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.
- Once a brand-name drug’s patent expires, other manufacturers can produce generic versions, increasing accessibility to affordable medications for consumers.
- These companies play a vital role in ensuring the availability of cost-effective alternatives to brand-name drugs.
- Initiatives, such as the Access to Medicine Foundation’s work, aim to mobilize generic medicine manufacturers, ensuring greater access to generic medicines.
- The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base.
- With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years.
With Inven you’ll also get to know the company’s:
- These firms are expanding their global footprint through strategic partnerships, acquisitions, and collaborations.
- Teva Pharmaceutical Industries Ltd. is a global leader in the generic drug market, with a history dating back to 1901.
- 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.
With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally. 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.
Pharma International Company
In addition, the patent expiration of several blockbuster drugs is anticipated to boost the segment’s growth rate. Through the research, development, manufacture, marketing, sales, and distribution of biopharmaceutical products around the world, they apply science and our global resources to offer cures to people that extend and dramatically improve their lives. They work to promote wellness, prevention, treatments, and cures for the world’s most feared diseases in developed and emerging economies. 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.
- They have also expanded internationally, with presence in 20 countries in Africa and the Middle East.
- 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.
- It’s a cornerstone of healthcare equity, leveling the playingfield and empowering individuals to take charge of their health without theburden of financial strain.
- A key factor contributing to the expansion of the worldwidegeneric drugs market is the expiration of patents protecting brandedmedications.
- CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke.
Industry
- The company operates across various regions, including Sub-Saharan Africa, South East Asia, Latin America, Eastern Europe, Western Europe, and the Commonwealth of Independent States.
- Branded generic drugs have gained recognition as being of better quality than pure ones, and notable pharmaceutical companies market these.
- Anil’s work empowers companies to seize emerging opportunities and achieve sustainable success.
- Additionally, by enabling broader production and distribution, generic drugs help alleviate medicine scarcity in underserved regions, contributing significantly to global health equity and addressing healthcare disparities worldwide.
- They specialize in the development, production, and commercialization of healthcare products, including generic and biotechnological medications.
- 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 Indian pharmaceutical industry has swiftly ascended to global prominence, establishing itself as a primary hub for the manufacturing and export of generic medicines.
The United States had the largest market share of 92% for generic drugs in North America in 2022, followed by Canada, which had a market share of 8%. 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.
As a result, the demand for generic drugs rises in tandem with the prevalence of chronic diseases, propelling the generic drugs market to new heights. They offer a wide range of generic drugs and steroids, including Carbamazepine, Cefixime, and Betamethasone Sodium Phosphate. 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. With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years. 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.
Companies are engaging in adaptive R&D, tailoring products to the needs of people in LMICs
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. 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.
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. 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.
Lupin is a global pharmaceutical company that specializes in the development, manufacture, and sale of a wide range of generic and specialty drugs. With a focus on key therapeutic areas like cardiovascular and respiratory health, Lupin offers innovative and cost-effective solutions to patients and healthcare providers worldwide. 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.
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. The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base. A world leader in generic drug manufacturing with operations in North America, Europe, Asia, and Latin America, Teva has a strong distribution network with a presence in over 60 countries.
Novartis AG [Annual Revenue: USD 46.66 Billion]
Companies in this industry prioritize efficiency to create affordable and readily accessible alternatives to innovator drugs without compromising quality. These corporations are an integral part of global healthcare systems, catering to different therapeutic areas to help patients overcome various health conditions. 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.
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. The increasing number of initiatives by the European governments favoring generic drugs is fuelling the European market growth. In addition, the growing aging population in the European region supports regional market growth. The presence of notable generic drug lenvatinib price in singapore manufacturers in Europe, such as Teva Pharmaceutical Industries Ltd., Mylan NV, and Novartis International AG, favors the growth of the generic drugs market. 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.
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.
With a commitment to sustainability and corporate responsibility, Viatris aims to improve global healthcare and enhance patient outcomes. While there is continued unrest in some regions, both economically and politically, the regional pharmaceutical market is becoming more attractive. In addition, although most of the market was held previously by the originator drugs, new guidelines favoring generic drugs are being implemented worldwide. Publicly funded health systems are under amplified pressure to reduce the ever-rising drug budgets. The government is finding ways to restore the fiscal balance by transferring more funds to patients and private health insurance.
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. 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”. The Indian pharmaceutical industry has invested significantly in research and development (R&D) activities, creating innovative generic drugs.
In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence. Lupin Limited is an Indian pharmaceutical firm, that has firmly established a prominent presence in the global generic drug market. The company offers a wide range of generic drugs for various ailments such as cardiovascular, central nervous system, and respiratory drugs.