Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare. In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers. 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.
#21 Regeneron Pharmaceuticals, Inc
Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype. 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.
Amneal Pharmaceuticals
Consequently, low-cost generics from India and China will remain in high demand from the US until sufficient subsidies or alternative support for domestic generic drugs production expansion are offered. Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US. 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.
#13 Eli Lilly And Company
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. 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.
- 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.
- Is a global pharmaceutical company and a key player in the generic drug market which was founded in 1961.
- As a key player in generic medicine supply, India consistently upholds high standards in pharmaceutical production.
- In addition, the absence of a standard drug regulatory body in certain countries leads to quality issues.
- However, maintaining stringent quality control standards remains a key focus to foster trust and sustained use of these generics.
- The APAC market held the second-largest worldwide market share in 2023, falling right behind North America.
- Generic drugs first appeared in 1984, when the Hatch-Waxman Act encouraged the manufacture of generic drugs and developed system regulation.
Cost-Effective Solutions
Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history. Driven by Knowledge and Services, InviMeds to become essential to its customers by providing access to most advanced treatment medicines and related services to help improve people’s quality of life. Recent studies reveal concerning trends in the availability and pricing of generic drugs for Hepatitis B and C. Despite reduced pharmacy prices, out-of-pocket costs for entecavir, a generic Hepatitis B antiviral, increased for privately insured patients from 2014 to 2018. Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities. The export of generic medicines enables countries to share their pharmaceutical resources and expertise with others.
Products
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.
Opportunities for Generics in Emerging Markets
DOC PHARMA exports its products to various European countries and has the potential for global expansion. Abbott, founded in 1888, is a global healthcare company renowned for its generic drug division offering a broad range of pharmaceuticals across therapeutic areas like cardiovascular, CNS, and women’s health. With a focus on quality, affordability, and innovation, Abbott continues to expand its portfolio through strategic acquisitions and R&D investments, ensuring the delivery of high-quality, accessible healthcare solutions worldwide. 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. The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed.
Despite initiatives to strengthen manufacturing, further efforts needed to safeguard product availability
Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024. 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.
[Ranking] TOP 25 Generic Drugs / Pharmaceuticals Companies Q3/2023
STADAstands out as a premier producer of top-tier pharmaceuticals, boasting a legacydeeply rooted in pharmacy traditions that spans over 125 years. Recognized as adependable and reputable ally, the company maintains a robust product pipeline,with over 2,500 approval procedures encompassing more than 200 activepharmaceutical ingredients and combinations in over 60 countries as of December31, 2023. This diverse portfolio includes significant generics alongside a widearray of consumer healthcare products and specialty pharmaceuticals. Notably,in the Generics segment, STADA introduced Sugammadex, Fampridin, and Apixabanin 2023, providing healthcare practitioners and patients with additionaltherapeutic options.
Top 10 Globally Leading Companies in The Generic Drug Market
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.
- 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.
- This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings.
- With a focus on innovation and customer satisfaction, Aurobindo Pharma offers a wide range of healthcare products globally.
- With a strong commitment to research, quality, and affordability, Pfizer continues to innovate and expand its generic drug offerings, ensuring patients worldwide have access to essential medications at competitive prices.
- 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.
- With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry.
Teva Pharmaceutical Industries Ltd. [Annual Revenue: USD 16.3 Billion]
They possess a well-diversified portfolio of over 200 generic medicines and a strong presence in both developed and emerging markets. Based on type, the pure generic drugs segment dominated the market in 2023 and held more than half of the global market share, 51%. Therefore, the upper hand of the pure generic drugs segment is predicted to continue during the forecast period. The cost-effectiveness of these drugs and the growing adoption of pure generic drugs in developing countries primarily drive the segment’s growth.
Trump Triumphs: Implications for Global Regions and Industries
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. Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community. 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.
Sun Pharmaceutical Industries Ltd.
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.
- AurobindoPharma Limited, headquartered in Hyderabad, India, stands as a leading globalpharmaceutical entity renowned for its expertise in manufacturing both genericformulations and active pharmaceutical ingredients (API).
- Generic antiretrovirals and antimalarials have been instrumental in globally expanding treatment options for these conditions.
- The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal.
- Inthe European market, Aurobindo Pharma Limited maintains a robust presenceacross 10 countries, boasting fully operational pharmacies, hospitalfacilities, and a comprehensive infrastructure for tender sales.
- The generics industry plays a vital role in expanding access to medicines in emerging markets.
- 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.
- The Indian Pharmacopoeia (IP) undergoes regular updates to align with global standards, reflecting the nation’s commitment to industry excellence.
- While primarily focused on branded pharmaceuticals, through its subsidiary Elanco Animal Health, Lilly also offers generic animal health products, emphasizing quality and accessibility.
- Across the five companies, the report identifies wider findings related to affordability, product registration, supply, local availability, and adaptive R&D.
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.
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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 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.
When patents expire, generic and biosimilar manufacturers can enter the market and develop these medicines at a lower cost, potentially introducing competition and increasing supply. Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally. The company has a strong presence in various therapeutic segments and operates in numerous countries. Biodeal is a manufacturer of generic drugs, specializing in the production of tablets, capsules, creams, ointments, syrups, suspensions, veterinary products, and disinfectants. 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 sofosbuvir price in germany 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.
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.
Other Ciba-Geigy and Sandoz industries were sold or spin off as separate firms, such as Ciba Specialty Chemicals. After a three-year hiatus, the Sandoz brand reappeared in 2003, when Novartis merged its generic medicine businesses into a single unit and renamed it, Sandoz. With the spinout of Syngenta in conjunction with AstraZeneca in 2000, Novartis divested its pesticide and genetically modified crops businesses. They offer a portfolio of prescription and over-the-counter medications across various therapeutic areas. AspenPharmacare has made substantial investments not only to align with contemporaryregulatory standards but also to address evolving patient needs by offeringcost-effective alternatives to newer, pricier innovative drugs.