They offer a wide range of high-quality and affordable medicines for various therapeutic areas. With a strong commitment to research and development, Beximco Pharmaceuticals aims to improve the health and well-being of people globally. The global healthcare landscape has witnessed a paradigm shift, with Indian pharmaceutical companies emerging as critical players in improving healthcare access worldwide. In Africa, the African Medicines Agency (AMA) aims to enhance the continent’s pharmaceutical regulatory environment to ensure that the generic drugs supplied meet international quality standards.
Lupin Limited
Avet Pharmaceuticals Inc. is a pharmaceutical company that specializes in the production and distribution of various medications, including tablets, capsules, and injectables. They offer a wide range of products such as Mycophenolate Mofetil, Propofol Injectable Emulsion, and Octreotide Acetate. Avet Pharma aims to provide high-quality medications to patients, ensuring their safety and well-being. They specialize in pharmaceutical trading, contract development and manufacturing, and pharmacovigilance. With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners.
KEY MARKET PLAYERS
Once a brand-name drug’s patent expires, other manufacturers can produce generic versions, increasing accessibility to affordable medications for consumers. Thecorporation offers over 1,600 commercial products spanning a wide spectrum ofillnesses and therapeutic areas. 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.
#23 Perrigo Company Plc
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. 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.
#13 Eli Lilly And Company
While generics share the same active pharmaceutical ingredient (API) as brand-name drugs, variations in characteristics such as formulation and packaging exist. Government regulations, including FDA evaluations, ensure their safety and efficacy, marking them as reliable alternatives to brand-name counterparts. The widespread availability of generic medicines plays a pivotal role in controlling and eradicating infectious diseases, notably demonstrated in the cases of HIV/AIDS, malaria, and tuberculosis. Generic antiretrovirals and antimalarials have been instrumental in globally expanding treatment options for these conditions.
Generic Drugs Market
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 Pharmaceutical Industries Ltd. [Annual Revenue: USD 16.3 Billion]
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. Its generic offerings span various therapeuticdomains, including cardiovascular, central nervous system, oncology, infectiousdiseases, pain management, and respiratory ailments.
SEGMENTAL ANALYSIS
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.
- 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.
- Ritedose is a leader in aseptic production of sterile, single-dose medication for the contract development manufacturing, generics, and 503B outsourcing markets.
- In 2020, the company operated commercial activities with a global organization that included two businesses—Biopharma and Upjohn, which were each directed by a single manager until November 16, 2020.
- FreseniusKabi is a prominent player in the generic IV drug sector, boasting a strongpresence in both the U.S. and European markets.
- Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic.
- This initiative establishes dedicated outlets known as Janaushadhi Kendras, which provide generic medicines at economical rates, thereby enhancing accessibility to essential healthcare treatments.
- While cost-effectiveness is critical, Indian pharmaceutical companies have not compromised quality.
Companies have potential to register more of their essential products in LMICs
Ratiopharm is a pharmaceutical company that offers a wide range of prescription and over-the-counter medications, as well as generic versions of existing drugs. 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. 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.
Want to find more generic drugs companies?
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. Generic drugs are medicinal products that can be manufactured and marketed by entities other than the innovator company once the original patents have expired. These drugs are bioequivalent to their brand-name counterparts, offering the same therapeutic benefits but at a fraction of the cost. Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community.
Top 22 Exemplary Janitorial Services Companies 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. Oxialfarm is a pharmaceutical company based in Ecuador that specializes in the production of retroviral medications.
The Rising Demand for Generic Drugs
Pfizer’s generic drug portfolio includes a diverse range of products across various therapeutic areas, including cardiovascular disease, pain management, and central nervous system disorders. As a result of its research and development capabilities, Pfizer’s generic drug strategy primarily focuses on developing and marketing generic versions of its own branded drugs. This strategy enables Pfizer to maintain a strong foothold in the generic drug market while also protecting its revenue streams from branded drugs that come off-patent. 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.
- 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.
- Eli Lilly and Company, founded in 1876, is a global pharmaceutical leader headquartered in Indianapolis, USA.
- Annually, it delivers over 800 milliontreatments to patients, resulting in over USD 18 billion in direct savingsacross the US and Europe.
- The generics industry plays a critical role in addressing this issue, offering cost-effective alternatives to branded medications.
- Non-communicable diseases (NCDs) such as cardiovascular disorders, chronic respiratory diseases such as COPD and asthma, malignancies, and diabetes are the most common.
- Abbott’s main business is the research, development, manufacturing, and distribution of a wide range of healthcare products.
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.
Why are generics so critical to expanding access to medicine?
This article explores the role of generics in expanding access to medicines in emerging markets, highlighting the challenges and opportunities that exist. The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal. Their commitment to producing affordable medicines without compromising quality has reshaped the global pharmaceutical landscape. As these companies continue to innovate, collaborate, and expand their reach, the future promises a more accessible and equitable healthcare system worldwide.
Top 16 Generic Pharmaceuticals Companies
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. In many emerging markets, our products are available under a brand name, such as Omez (Omeprazole), Nise (Nimesulide),Ketorol (Ketorolac Thromethamine), Stamlo (Amlodipine Besylate), Razo (Rabeprazole), among many others. Over the years, these brands have established themselves as leaders in their respective categories. Across the five companies, the report identifies wider findings related to affordability, product registration, supply, local availability, and adaptive R&D.
#11 Bristol-Myers Squibb Company
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.
If you want to find more companies that develop, manufacture, and distribute cost-effective medications you can do so with Inven. Throughclose collaboration with a network of trusted partners in development,manufacturing, and distribution, STADA consistently enriches its Genericsportfolio. In 2023, notable additions included the anticoagulant apixaban, thediabetes medication sitagliptin, and the analgesic tapentadol. 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.
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. 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.
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, 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.
GSK plc, or GlaxoSmithKline, a prominent global pharmaceutical company, has been a leader in innovation since its formation in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. 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.
The company is firmly committed to adhering to regulatory compliance requirements in different markets, which has facilitated its expansion into new markets and bolstered its business growth. Latin America is anticipated to hold a considerable share of the worldwide market during the forecast period. Healthcare costs are growing significantly, making it difficult for people to afford quality healthcare. Due to this, the demand for affordable healthcare is growing in the Latin American region, driving the generic drugs market in Latin America as these drugs are an effective alternative to branded drugs.
If you want to find more companies that offer a diverse range of high-quality and cost-effective generic medications you can doso with Inven. India has proactively implemented measures to ensure the quality and safety of pharmaceutical products. The Indian Pharmacopoeia (IP) undergoes regular updates to align with global standards, reflecting the nation’s commitment to industry excellence. Stringent laws govern the import, manufacture, distribution, and sale of pharmaceutical goods, reinforcing India’s dedication to upholding high standards. 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 nation emerges as the global leader, fulfilling over 50% of the global demand for generics.
- Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines.
- 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.
- Initiatives, such as the Access to Medicine Foundation’s work, aim to mobilize generic medicine manufacturers, ensuring greater access to generic medicines.
- TevaPharmaceutical Industries Limited is a renowned global pharmaceuticalcorporation dedicated to facilitating worldwide patient access tocost-effective medications and leveraging innovations to enhance healthoutcomes.
- In addition, increasing initiatives from the MEA countries favoring generic drugs support regional market growth.
- 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.
- 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.
Thirdly, they have developed strong distribution networks, enabling them to reach diverse markets and provide affordable drugs to a wide range of customers. The analysis of the top companies in the Generic Drugs sub-industry has revealed some interesting findings. The rankings show that the leading companies in this sofosbuvir price in germany sector are experiencing significant growth and success. These companies have achieved remarkable accomplishments in terms of revenue, market share, and innovation. They have emerged as the key players in the pharmaceutical industry, contributing to the availability and affordability of generic drugs worldwide.
- 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 report highlights untapped potential for companies to register more essential products in low- and middle-income countries (LMICs).
- Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities.
- Subsequently, in 2015, the program underwent a revamp and rebranding, now known as the Pradhan Mantri Bhartiya Jan Ausadhi Pariyojana (PMBJP).
- However, challenges such as patent litigations and strict regulations continue to shape the industry.
- 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.
- In low and middle-income countries (LMICs), generics make up 70-80% of the private sector market share.
- They offer a portfolio of prescription and over-the-counter medications across various therapeutic areas.
With risinghealthcare costs globally, patients and healthcare systems are increasinglyseeking cost-effective alternatives without compromising on quality. Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland that focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical products and eye care products. The company develops and manufactures medications to treat cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, hematologic diseases, solid tumors, immune disorders, and infections. Using a robust pipeline of drug candidates in development, the company offers affordable and accessible high-quality generic medicines and biosimilars through its subsidiary Sandoz. Novartis conducts research in various disease areas through The Novartis Institutes for BioMedical Research (NIBR).
Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals. Teva Pharmaceuticals was the world’s second-largest generic medicine manufacturer and eighth-largest pharmaceutical firm in 2020. What sets these eminent companies apart from their industry rivals are their unique qualities. They have a deep understanding of regulatory frameworks and compliance requirements, allowing them to navigate complex approval processes smoothly. They also possess strong relationships with healthcare providers, enabling them to collaborate on drug development and distribution.
The export of generic medicines enables countries to share their pharmaceutical resources and expertise with others. Disparities in disease prevalence between developed and developing countries can result in gaps in the utilization of specialty medicines. Generic medications emerge as a solution to bridge these discrepancies, offering more affordable and accessible treatment options. Projected to reach $65 billion by 2024 and $130 billion by 2030, India’s pharmaceutical sector demonstrates significant growth potential from its current $50 billion valuation. 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.
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.
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 manufacturers in Europe, such as Teva Pharmaceutical Industries Ltd., Mylan NV, and Novartis International AG, favors the growth of the generic drugs market. The cost-effectiveness of generic medications has increased demand for the generic drugs market.
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.