Top 17 Leading Generic Drugs Companies Worldwide
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. If you want to find more companies that offer a diverse range of generic pharmaceutical products you can doso with Inven.
High-Quality Generic Drugs: Role Of Indian Pharmaceutical Companies In Improving Healthcare Access Worldwide
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.
World’s Prominent Companies Offering Generic Drug; Top 10 by Revenue
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.
- 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.
- Many patients in conflict zones and low-income countries have limited pharmaceutical manufacturing and are heavily reliant upon imports to access generics.
- Viatris is a global pharmaceutical company offering a wide range of therapeutic products and services.
- Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally.
Shaigan Pharmaceuticals (Pvt) Ltd.
Viatris has over 1,400 approved compounds across a broad spectrum of therapeutic areas, including globally renowned iconic and key brands, generics, complex generics, and biosimilars. Viatris manufactures oral solid dosages, injectable, complicated dosage forms, and APIs at roughly 50 manufacturing sites across the world. Viatris is based in Pittsburgh, Pennsylvania, with global offices in Shanghai, China, and Hyderabad, India. This is the first research report from the Generic & Biosimilar Medicines Programme, with analysis carried out using the Analytical Framework published in February 2023.
Cost-Effective Solutions
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. FreseniusKabi offers an extensive range of intravenously administered generic drugsspanning various therapeutic categories including oncology, anesthetics &analgesics, anti-infectives, and critical-care medications. Asthe 10th largest generics company in the United States, Sun Pharma possesses aformidable research and development infrastructure, equipped to developtechnologically advanced products in both generics and specialty segments.
SEGMENTAL ANALYSIS
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. Indian pharmaceutical companies are not merely suppliers of generic drugs but have also become significant players in the global pharmaceutical market.
Companies have potential to register more of their essential products in LMICs
Additionally, breakthroughs in manufacturing processes and regulatory reforms have improved the efficiency and quality of generic drug production. 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.
Novartis AG
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.
List of Top Companies Operating in the Generic Drugs Industry Worldwide
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.
Tabuk Pharmaceuticals Manufacturing Company
This can be particularly beneficial for nations facing health crises or resource constraints. 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. 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. For these ten assessed products per company – 50 overall – the analysis found that companies had strategies in place to expand access to 41 of them. However, these strategies are very limited in scope and especially do not address affordability considerations for the poorest patients, including those who are uninsured and must pay out-of-pocket for medicine.
- Through the research, development, manufacture, marketing, sales, and distribution of biopharmaceutical products around the world, they apply science and our global resources to offer cures to people that extend and dramatically improve their lives.
- They offer a wide range of products including generic drugs, biosimilars, and active ingredients.
- The success of these top companies can be attributed to several shared elements and approaches.
- Despite this potential, generic and biosimilar medicines remain out of reach for many in LMICs, particularly vulnerable populations and those living in low-income countries.
- North America held the largest share of the global generic drugs market in 2023 and is predicted to maintain the same dominating position throughout the forecast period.
- The concept of digital health is having a big impact on healthcare, especially when it comes to improving …
- In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence.
- With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally.
In addition, the patent expiration of several blockbuster drugs is anticipated to boost the segment’s growth rate. Through the research, development, manufacture, marketing, sales, and distribution of biopharmaceutical products around the world, they apply science and our global resources to offer cures to people that extend and dramatically improve their lives. They work to promote wellness, prevention, treatments, and cures for the world’s most feared diseases in developed and emerging economies. They work with healthcare professionals, governments, and local communities all around the world to support and expand access to safe, affordable healthcare. Developed Markets, Greater China, JANZ, and Emerging Markets are just a few of the markets and geographies covered by Viatris. This strategy represents the Company’s commitment to making its large and diverse portfolio of branded, complicated generics, and generic medicines available to people in markets around the world.
- Companies in this industry prioritize efficiency to create affordable and readily accessible alternatives to innovator drugs without compromising quality.
- Indian pharmaceutical companies are not merely suppliers of generic drugs but have also become significant players in the global pharmaceutical market.
- There are several types of companies in this industry, including large multinational pharmaceutical companies, smaller local manufacturers, and distributors.
- Teva Pharmaceuticals was the world’s second-largest generic medicine manufacturer and eighth-largest pharmaceutical firm in 2020.
- They specialize in the production of high-quality generic medications and contract manufacturing for other pharmaceutical companies.
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. This initiative establishes dedicated outlets known as Janaushadhi Kendras, which provide generic medicines at economical rates, thereby enhancing accessibility to essential healthcare treatments. 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’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.
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 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.
In contrast to branded products, generic drugs have the same API pharmacokinetic and pharmacodynamic properties. It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor. Branded drug manufacturers spend money on research and development and ads for their new products, and they are granted a monopoly for a set period. However, when a patent expires, manufacturers may ask the FDA for permission to produce generic drugs. 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.
TevaPharmaceutical Industries Limited is a renowned global pharmaceuticalcorporation dedicated to facilitating worldwide patient access tocost-effective medications and leveraging innovations to enhance healthoutcomes. The company’s overarching objective is to assume a prominent globalposition in generics, pioneering medicines, and biopharmaceuticals, therebyenhancing patient well-being. Sun Pharma is a global pharmaceutical company committed to conducting business with the highest standards of professional integrity and ethical behavior. They offer a wide range of pharmaceutical products and aim to improve the health and well-being of people around the world.
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. Amriya Pharma is a company that offers pharmaceutical manufacturing and development services. They specialize in the production of high-quality generic medications and contract manufacturing for other pharmaceutical companies. Recent trends in the generic drugs industry include increased consolidation among companies, with larger players acquiring smaller ones to expand their product portfolios.
The analysis reveals areas where companies can focus their attention as they step up efforts to expand access to their essential medicines. Anil Kumar P is the lead author of this report and the manager of the team responsible for authoring healthcare reports at Market Data Forecast. He holds a Bachelor’s degree in Pharmacy (Hons.) from BITS Pilani, one of India’s premier institutions. The Diagnostic Products segment contains a diverse range of diagnostic systems and tests that are produced, marketed, and sold around the world.
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). 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.
The Indian pharmaceutical industry is a global leader, with the domestic market poised to reach US$ 65 billion by 2024 and an expected surge to US$ 130 billion by 2030. 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 Abiraterone price in malaysia 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. 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 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.
Neo Química is a pharmaceutical company that offers a wide range of generic medicines and healthcare products. 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. Victoza is not approved for weight management, the aspect of GLP-1 that is recently of interest, nor will Victoza likely gain approval for such an indication based on its existing clinical trial results.
It caters to over 12 crore vulnerable families, representing the bottom 40% of the Indian population, totaling around 55 crore beneficiaries. 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. We are your trusted research partner, providing actionable insights and custom consulting across life sciences, advanced materials, and technology. Unlock industry potential through cutting-edge research, data-driven insights, and strategic guidance.
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. Geolab is committed to providing affordable and high-quality medications to improve people’s health and well-being.
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