Headquartered in Israel, the company holds the top spot in revenue and maintains a robust presence in both developed and emerging markets. The administration said concerns over the quality of bulk-buy generic drugs have largely stemmed from secondhand information or subjective impressions. Chinese drug regulators have established stringent evaluation criteria and methods to ensure the efficacy and safety of generic drugs before granting market approval, followed by continuous quality oversight after their release. In 2008, India introduced the People’s Medicine Scheme (Jan Aushadhi) to make quality generic medicines more affordable. Subsequently, in 2015, the program underwent a revamp and rebranding, now known as the Pradhan Mantri Bhartiya Jan Ausadhi Pariyojana (PMBJP).
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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. India supplies approximately 40% of generic and OTC drugs consumed in the US, meaning that in the near-to-medium term, the US will remain highly reliant upon India for access to many generic drugs. The company is dedicated to providing affordable and high-quality medicines while promoting sustainability.
Trump Triumphs: Implications for Global Regions and Industries
Currently ranked 3rd globally in pharmaceutical production by volume and 14th by value, India commands a 20% share in global generic medicine supply and dominates vaccine manufacturing with a 60% market share. The generics industry is positioned to enhance access to essential health products in low- and middle-income countries. Initiatives, such as the Access to Medicine Foundation’s work, aim to mobilize generic medicine manufacturers, ensuring greater access to generic medicines.
Top 16 Generic Pharmaceuticals Companies
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.
Sandoz Polska
The Indian pharmaceutical industry has swiftly ascended to global prominence, establishing itself as a primary hub for the manufacturing and export of generic medicines. As a generic medicine supplier, this achievement has earned it the distinguished title of the “pharmacy of the world.” The industry’s remarkable growth can be attributed to various pivotal factors and compelling statistics. Global Pharma is a leading generics partner in the region, specializing in the production of medicines and herbal remedies. With a manufacturing facility in Dubai Investment Park, the company has an extensive product range that covers various therapeutic areas. They work closely with healthcare professionals to understand their needs and offer support programs for better patient management. Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024.
Hetero Drugs Ltd
- Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals.
- The Indian Pharmacopoeia (IP) undergoes regular updates to align with global standards, reflecting the nation’s commitment to industry excellence.
- With a strong focus on quality and innovation, Hikma.com aims to improve global healthcare through their reliable and affordable solutions.
- They offer a wide range of high-quality and affordable medicines for various therapeutic areas.
- 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.
- In the labyrinth of thepharmaceutical industry, where towering patents and complex research dominate,generic drug companies emerge as beacons of hope and equity.
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. With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry.
Generic Drugs Market
Formed through the merger of Mylan and Pfizer’s Upjohn business, Viatris is a relatively new player that has quickly risen through the ranks. 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.
Aurobindo Pharma Limited
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.
Aspen Pharmacare Holdings Limited
Educating stakeholders on their benefits is crucial, and the generics industry holds a central position in improving access globally. Grupo NC is a Brazilian pharmaceutical company that specializes in the production and distribution of generic medications. In 2024, we expect key pharmaceutical companies to see patent expiries for their drugs, which will cause reduced revenue and an increase in generic manufacturing of these drugs and more competition. Notable drugs that are open to generic competition in 2024 include Novo Nordisk’s Victoza (liraglutide), an anti-diabetic medication used to treat type 2 diabetes (T2D) and chronic obesity. Liraglutide is a glucagon-like peptide-1 (GLP-1) agonist, which has recently become a highly sought-after class of drug, with much media attention.
- The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal.
- Thecorporation offers over 1,600 commercial products spanning a wide spectrum ofillnesses and therapeutic areas.
- Recent developments include advancements in oncology with drugs like Verzenio, as well as ongoing research into Alzheimer’s treatments.
- 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.
- Despite reduced pharmacy prices, out-of-pocket costs for entecavir, a generic Hepatitis B antiviral, increased for privately insured patients from 2014 to 2018.
List of Top Companies Operating in the Generic Drugs Industry Worldwide
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. 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.
- 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.
- While generics share the same active pharmaceutical ingredient (API) as brand-name drugs, variations in characteristics such as formulation and packaging exist.
- Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices are the four reportable segments for Abbott.
- With the prevalence of T2D increasing globally, the demand for effective and affordable treatments is expected to rise, creating a sizeable market for generics.
- They offer custom manufacturing of pharmaceutical forms for several national and international pharmaceutical companies.
Driving Forces Behind Generic Drug Industry Growth
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. Technological advancements such as biosimilar development and Artificial Intelligence (AI) are enhancing generic drug manufacturing processes, while partnerships between pharmaceutical companies, like CytoReason and Pfizer, are driving innovation. However, concerns persist regarding quality and safety, stemming from regulatory challenges and limited transparency in manufacturing processes, which may hinder market growth. Pfizer Inc. refers to an American multinational pharmaceutical and biotechnology corporation that is considered as one of the major market players in the generic drugs market.
Globalpharma LLC
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.
Novartis AG is a Swiss pharmaceutical giant formed in 1996 through the merger of Ciba-Geigy and Sandoz, boasting a rich history in the industry. Its subsidiary Sandoz is a key player in the generic drug market, offering a diverse range of affordable pharmaceuticals across therapeutic areas. Novartis prioritizes innovation, quality, and accessibility, evident in its global reach, philanthropic efforts, and commitment to improving healthcare worldwide.
- As a result, the industry is highly competitive, with numerous companies vying for market share and striving to deliver cost-effective medications to consumers.
- A global leader in the generics space, Teva boasts a massive portfolio of over 1,600 molecules across various therapeutic areas.
- The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans.
- Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally.
- Alvogen is a global pharmaceutical company that develops, manufactures, and sells generic, brand, over-the-counter, and biosimilar products.
- The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs.
- By producing bioequivalentversions of brand-name medications, generic drug companies dramatically reducecosts while maintaining the same therapeutic efficacy.
#16 Becton, Dickinson And Company
Geolab is committed to providing affordable and high-quality medications to improve people’s health and well-being. 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.
Among the premier companies in the Generic Drugs sub-industry are ABC Pharmaceuticals, XYZ Pharmaceuticals, and PQR Healthcare. These companies have established themselves as leaders in the production and distribution of generic drugs. With their extensive product portfolios and global reach, they have gained the trust of healthcare professionals and patients alike. The pharmaceutical industry plays a critical role in the worldwide economy, providing essential medications to people around the globe. One of the sub-industries within pharmaceuticals is the generic drugs sector, which focuses on producing affordable versions of brand-name drugs. The top 10 generic drugscompanies in the world represent the pinnacle of innovation, efficiency, andcommitment to providing high-quality and affordable medications to millions ofpatients worldwide.
- 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.
- Viatris manufactures oral solid dosages, injectable, complicated dosage forms, and APIs at roughly 50 manufacturing sites across the world.
- 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, safety, quality, stability, and how they are taken.
List of Top Companies Operating in the Generic Drugs Industry Worldwide
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. Chronic diseases necessitate long-term therapy and marketed medications are prohibitively costly.
- 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.
- 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.
- 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.
- 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.
- 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.
- Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry.
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 regorafenib price philippines 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.
He excels at analysing complex market trends and producing comprehensive, actionable reports that help companies foster innovation and enhance end user experience. Also, his ability to tailor research solutions to the specific needs of healthcare clients, combined with his collaborative approach with industry stakeholders, has made him an invaluable resource in navigating the intricate healthcare market. Anil’s work empowers companies to seize emerging opportunities and achieve sustainable success. 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. Psychiatry, anti-infectives, neurology, cardiology, orthopedics, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental, and nutrition are among the therapeutic categories covered by the goods. Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol.