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. SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976. They offer custom manufacturing of pharmaceutical forms for several national and international pharmaceutical companies.
Fitch Solutions Expands Global Footprint with New Warsaw Branch
- Some amendments, such as the US Generic Drug User Fee Act, are expected to result in a much stronger focus on quality with a much shorter approval process for these generic medicines.
- This indicates a dynamic and evolving landscape, with room for new entrants and innovative approaches.
- Contributing significantly to India’s economy, the pharmaceutical industry is ranked 3rd worldwide in production volume and 14th by value.
- Across the five companies, the report identifies wider findings related to affordability, product registration, supply, local availability, and adaptive R&D.
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.
Top 16 Generic Pharmaceuticals Companies
- With a production base that allows the manufacture of 13 different pharmaceutical forms, SOTHEMA represents 35 client laboratories ranking among the global R&D leaders.
- In March 1996, Ciba-Geigy and Sandoz merged, forming Novartis, a separate company with pharmaceutical and agrochemical operations.
- 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.
- The Indian pharmaceutical industry has invested significantly in research and development (R&D) activities, creating innovative generic drugs.
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- Abbott Laboratories is a worldwide medical device and healthcare corporation based in Abbott Park, Illinois, United States.
- Committed to health, Teva is a global leader in generic and specialty medicines across various therapeutic areas.
Discover the Top 17 Healthcare Diagnostics Companies revolutionizing healthcare with innovative diagnostic solutions. The concept of digital health is having a big impact on healthcare, especially when it comes to improving … InFebruary 2023, a wholly owned subsidiary of Sun Pharma secured final approvalfrom the US Food and Drug Administration (FDA) for its Abbreviated New DrugApplication (ANDA) concerning generic lenalidomide Capsules in multiplestrengths. Similarly, in May 2022, the company received final FDAapproval for its ANDA for generic Mesalamine Extended Release Capsules, 500 mg,based on Pentasa® Extended-Release Capsules, 500mg as the reference product. To enhance oversight of bulk-buy medications, the administration said it is committed to conducting regular and random checks on drugmakers that win bids and will promptly address any issues.
Amriya for Pharmaceutical Industries S.A.E
Sandoz (Novartis) Sandoz, a division of Novartis, stands as a leading global player in generic pharmaceuticals and biosimilars. Renowned for its expansive portfolio of high-quality and affordable generic medications, the company has firmly established its presence in Europe, the United States, and Japan. The growing demand for cost-effective drugs in the European region primarily drives market growth. 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.
AbbVie Inc. [Annual Revenue: USD 14.301 Billion]
The generics industry plays a vital role in expanding access to medicines in emerging markets. 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”. Generic drugs present several key benefits, foremost among them being the significant reduction in healthcare expenses. Opting for generic medications enables patients to save money while still receiving high-quality care. Additionally, these medicines contribute to equalizing the availability of treatments between developed and developing countries, ensuring widespread access to essential healthcare solutions.
Expanding Access to Medicines: The Role of Generics in Emerging Markets
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. The quality issues of generic drugs are another significant challenge to the global market growth. To get approval from the Food and Drug Administration (FDA), generic medicines should be demonstrated to be the same as brand-name medicines in dosage, effectiveness, strength, https://indiangenericprice.com/ safety, quality, stability, and how they are taken. 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.
Beximco Pharmaceuticals Ltd.
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).
Hetero Drugs Ltd
By establishing a presence in diverse markets, they contribute to healthcare access and the overall economic development of their regions. With over 5 decades of experience, we are actively involved in the development, manufacturing, and marketing of branded generic pharmaceutical products. Our mission is to spread smiles across communities by enhancing access to a better healthcare system through our innovative products and services. Orion is a pharmaceutical company that offers a wide range of generic prescription drugs, self-care products, and innovative medicines. They specialize in the development, manufacturing, and marketing of high-quality pharmaceuticals for various medical conditions.
Growing Patient Population of Chronic Diseases
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. 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.
Top 10 Globally Leading Companies in The Generic Drug Market
Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic. Metformin, metoprolol, amphetamine salt combo, acyclovir, bupropion HCL tablet, cholestyramine, ibuprofen tablet, letrozole, and verapamil are some examples of generic drugs. The Sandoz Division of the corporation is a global leader in generic pharmaceuticals and biosimilars, pioneering unique techniques to help people access high-quality medications all around the world. Sandoz is the only generics firm in the top three in all major regions of the world, reaching over 500 million people annually and helping healthcare systems save money around the world. They have over 1,000 molecules covering a wide range of therapeutic areas and are a renowned pioneer in antimicrobials with over 150 product and technology combinations.
- As these populations age, there is a corresponding increase in the prevalence of chronic diseases, which in turn raises the demand for affordable long-term medication.
- The world’s leading producers of generic and biosimilar medicines – such as the five market leaders profiled in this report – occupy a central position in the global health landscape.
- Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities.
- This commitment to quality ensures that patients worldwide can access affordable medicines without compromising safety or efficacy.
- The analysis reveals areas where companies can focus their attention as they step up efforts to expand access to their essential medicines.
- As these companies continue to innovate, collaborate, and expand their reach, the future promises a more accessible and equitable healthcare system worldwide.
- They offer a wide range of generic drugs with the same active ingredient, concentration, pharmaceutical form, and therapeutic indication as the innovator drug.
- Besides, generic drugsare typically more affordable than their branded counterparts, making them anattractive option for both consumers and healthcare providers.
- Sandoz is the only generics firm in the top three in all major regions of the world, reaching over 500 million people annually and helping healthcare systems save money around the world.
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. 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.
MARKET RESTRAINTS
- 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.
- Chronic diseases necessitate long-term therapy and marketed medications are prohibitively costly.
- They have a broad portfolio of approximately 270 generic and specialty pharmaceuticals, and they are committed to improving the lives of patients and care for the communities they serve.
- These include anti-retrovirals and treatmentsfor tuberculosis, acute and chronic generic drugs, branded medications,specialized sterile products (such as those for thrombosis, oncology, andanesthesia), emergency medications, and vaccines.
- Generic drugs first appeared in 1984, when the Hatch-Waxman Act encouraged the manufacture of generic drugs and developed system regulation.
- The APAC region is undergoing a significant transformation due to an ageing population, especially in Japan, China and South Korea.
- Par Pharmaceutical is a pharmaceutical company dedicated to helping people by providing quality medicines.
Additionally, anesthesiologists and hospital officials from various hospitals in Shanghai said the generic versions of the anesthetics they use produce the desired clinical outcomes. 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.
What was the value of the global generic drugs market in 2023
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. Countries such as India and China in the Asia-Pacific region dominated the global generic drugs business in volume.
With advanced manufacturing equipment, cutting-edge instrumentation, and state-of-the-art laboratories, Biodeal ensures the highest quality in drug manufacturing. One unexpected finding from the investigation is the increasing competition among the top companies. Despite the dominance of a few major players, smaller companies are also making their mark in the generic drugs market.
Sandoz Polska
This commitment to quality ensures that patients worldwide can access affordable medicines without compromising safety or efficacy. The government must take appropriate steps to encourage global pharmaceutical firms to set up new generic facilities through joint ventures by offering tax breaks. Some amendments, such as the US Generic Drug User Fee Act, are expected to result in a much stronger focus on quality with a much shorter approval process for these generic medicines. 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.
Top 10 Generic Drugs Companies in the World:
With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally. The high cost of branded medicines has been a significant barrier to healthcare access, especially in developing nations. 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.
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. They have a strong focus on healthcare innovation and improving access to life-saving treatments.
- SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976.
- With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners.
- With a portfolio comprising over 200 brands across26 therapeutic categories, the generics segment has achieved remarkable 9%growth, driven by the robust performance of flagship brands and successfullaunches of new products.
- Itsdiverse product portfolio encompasses complex generics and medicationstargeting respiratory, anti-retroviral, urology, cardiology, anti-infective,CNS, and various other critical therapeutic segments.
- They offer a wide range of high-quality prescription and over-the-counter pharmaceutical products.
- 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.
- Rapid unplanned urbanization, globalization of unhealthy lifestyles, and an aging population drive these diseases.
- India asserts its dominance by claiming a substantial 20% share in the global generic drug market, securing its position as the largest international provider.
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. Biodeal is a manufacturer of generic drugs, specializing in the production of tablets, capsules, creams, ointments, syrups, suspensions, veterinary products, and disinfectants.
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.