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.
Top 16 Generic Pharmaceuticals Companies
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.
Companies have potential to register more of their essential products in LMICs
With a focus on innovation and customer satisfaction, Aurobindo Pharma offers a wide range of healthcare products globally. Alvogen is a global pharmaceutical company that develops, manufactures, and sells generic, brand, over-the-counter, and biosimilar products. In 2024, the global market for generic drugs is projected to increase by USD3bn, a growth rate of 6.7% from 2023, bringing total sales to an estimated USD51bn. 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. The APAC region is undergoing a significant transformation due to an ageing population, especially in Japan, China and South Korea.
Sandoz France
The AMA seeks to harmonise the disparate regulatory policies and to streamline the approval processes for generic medicines across member 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. Rivopharm is a global pharmaceutical company specializing in the development, production, and distribution of generic pharmaceutical products.
Indus Pharma (Pvt.) Ltd.
This strategic diversification strengthens India’s position in the global pharmaceutical market. Generic medications, being generally more economical than their branded counterparts, provide enhanced accessibility to a diverse patient demographic, notably benefiting those in low- and middle-income countries. These generic drugs present a financially prudent option, offering a cost-effective alternative for essential treatments, thereby expanding access to a wider population. This economic viability becomes particularly vital in regions where financial limitations frequently impede the availability of critical, life-saving medications. India excels in generic medicine production, commanding 20% of global supply and leading vaccine manufacturing.
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For instance, in May 2022, Sandoz will expand its respiratory portfolio by launching the first generic pirfenidone in the United States for patients with idiopathic pulmonary fibrosis. Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue. Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option. 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.
- Additionally, Fresenius Kabi implements several initiatives to reduce the impact of its operations on the environment.
- Krka is an international pharmaceutical company and one of the leading generic manufacturers worldwide.
- India asserts its dominance by claiming a substantial 20% share in the global generic drug market, securing its position as the largest international provider.
- Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals.
- With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry.
- Other Ciba-Geigy and Sandoz industries were sold or spin off as separate firms, such as Ciba Specialty Chemicals.
AbbVie Inc. [Annual Revenue: USD 14.301 Billion]
They specialize in research, development, manufacturing, and marketing of generic and biosimilar medications in various therapeutic areas. They offer a wide range of products including generic drugs, biosimilars, and active ingredients. They offer a wide range of generic drugs with the same active ingredient, concentration, pharmaceutical form, and therapeutic indication as the innovator drug.
Aurobindo Pharma
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. The continued rise in the expenditure on prescribed drugs and the healthcare expenditure accounting for a substantial percentage of a nation’s GDP is attributed to the generic drug manufacturers producing effective products at an advantageous price. Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines. Also, as generic-friendly policies are expected to be enacted, the market share of patented drugs is expected to erode further in the next decade, thereby resulting in the growth of the generic drugs market worldwide.
- These companies play a vital role in ensuring the availability of cost-effective alternatives to brand-name drugs.
- 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.
- Normon is a pharmaceutical company that has been manufacturing high-quality prescription and non-prescription drugs for 80 years.
- Landsteiner is a pharmaceutical company with over 20 years of experience in the Mexican market.
- They specialize in research, development, manufacturing, and marketing of generic and biosimilar medications in various therapeutic areas.
- The generics industry plays a vital role in expanding access to medicines in emerging markets.
- Additionally, anesthesiologists and hospital officials from various hospitals in Shanghai said the generic versions of the anesthetics they use produce the desired clinical outcomes.
Global Healthcare: The Journey of Indian Generic Medicines to Worldwide Markets
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.
Generic Drugs Key Themes For 2024: Drug Shortages, Patent Cliffs And National Incentives To Impact Global Market
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.
Novartis AG [Annual Revenue: USD 46.66 Billion]
With subsidiaries and offices in over 80 countries across the Americas, Europe, the Middle East, Africa, and Asia-Pacific, Novartis products reach about 800 million customers globally. Viatris is a global pharmaceutical company offering a wide range of therapeutic products and services. They focus on providing branded and generic medications, active pharmaceutical ingredients (APIs), and over-the-counter products. With a commitment to sustainability and corporate responsibility, Viatris aims to improve global healthcare and enhance patient outcomes.
In addition, the growing chronic disease patient population in the Latin American region and the increasing number of generic drug manufacturing activities further fuel the growth of the generic drugs market in Latin America. On the other hand, the branded generic drugs market had decent occupancy in the global market in 2023 and is predicted to showcase a CAGR of 8.8% during the forecast period. The growing demand for quality drugs with a trusted brand name is majorly boosting segmental growth. Branded generic drugs have gained recognition as being of better quality than pure ones, and notable pharmaceutical companies market these. In addition, the growing patient count suffering from chronic diseases such as cardiovascular diseases, cancer, diabetes, and others is expected to propel the segment’s growth rate as these drugs are used in the treatment procedures of chronic diseases. The generic pharmaceuticals industry is centered around creating and distributing cost-effective alternatives to brand-name prescription medicines.
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. 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.
SEGMENTAL ANALYSIS
- Their cost-effectiveness serves as a practical solution, bridging the availability gap between developed and developing nations.
- The generics industry is positioned to enhance access to essential health products in low- and middle-income countries.
- The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans.
- Additionally, these medicines contribute to equalizing the availability of treatments between developed and developing countries, ensuring widespread access to essential healthcare solutions.
- With their online distribution system and distribution portal, they provide 24/7 access to their products.
- 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.
- Teva Pharmaceutical Industries Ltd. is a global leader in the generic drug market, with a history dating back to 1901.
- Ritedose is a leader in aseptic production of sterile, single-dose medication for the contract development manufacturing, generics, and 503B outsourcing markets.
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 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.
However, challenges such as patent litigations and strict regulations continue to shape the industry. Teva Pharmaceutical Industries Ltd. is a global leader in the generic drug market, with a history dating back to 1901. Specializing in affordable alternatives to brand-name imatinib price in singapore medications, Teva offers a diverse portfolio covering various therapeutic areas. Despite facing challenges like pricing pressures, the company remains committed to accessibility and quality, continually optimizing its offerings through R&D and strategic initiatives.
Lupin Limited has manufacturing facilities in India, the United States, and Japan, providing it with a robust manufacturing infrastructure. Moreover, the company emphasizes investing heavily in research and development, particularly in the development of complex generic drugs and biosimilars, resulting in a strong product pipeline that keeps it at the forefront of the market. The global pharmaceutical industry faces a significant challenge in ensuring access to essential medicines, particularly in emerging markets where affordability and availability are major concerns. The generics industry plays a critical role in addressing this issue, offering cost-effective alternatives to branded medications.
The Evolution Of The Indian Pharma Industry
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. 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.
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. Notably, Dr. Reddy’s launched the generic version of REVLIMID®(lenalidomide) Capsules in the United States, securing first-to-market statusand 180 days of generic drug exclusivity for capsules in 2.5 mg and 20 mgstrengths. Additionally, the company expanded its portfolio through theacquisition of the US generic prescription product portfolio of Australia-basedMayne Pharma Group Limited. Thecompany exhibits a robust presence in intricate generics such as injectablesand respiratory inhalers.
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. The main purpose of the FDA was to promote international trade and harmonization of generic medicine development, thereby creating opportunities to gain high-quality drugs to be approved globally. Moreover, the FDA has taken a crucial step toward easing the entry of generic medicines into the market by introducing generic competition to the level of branded medicines known as complex drugs. The authorization of the first generic version of Advair Diskus in Jan 2019 for the treatment of asthma is an example of this, which creates future opportunities for the generic drug market. Is a pharmaceutical company established in 2015 specializing in drug production and food supplementation. With a focus on quality and innovation, the company produces its own generic drugs and food supplements, as well as offers manufacturing services for other companies.
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.
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. Generic medicine manufacturers can develop business models prioritizing long-term sustainability, and balancing commercial viability with approaches that increase access to medicines. Discover the top 20 fine chemicals companies offering tailored solutions for pharmaceuticals, crop protection, and specialty polymers.