The global generic drugs market reached a value of US$ 320 Billion in 2021. Generic drugs are medicines with the same active pharmaceutical ingredients (APIs) and therapeutic effects as their branded counterparts. They are as effective and safe as patented drugs due to their similar strength, dosage, quality, route of administration, intended use, and side effects. They are sold at lower prices than their branded equivalents since they eliminate the upfront costs of drug research and clinical trials. As a result of their cost-effectiveness and clinical benefits, generic drugs have gained immense traction among patients.
As per the analysis by IMARC Group, the top companies in the generic drugs industry are extensively investing in research and development (R&D) activities to engineer patent, effective, and safe food and drug administration (FDA)-approved medicines. They are also focusing on gaining a competitive edge by implementing the re-innovation business model that involves improving existing product characteristics, replacing new components, reshaping their configuration, and utilizing new technology platforms to develop novel products. In addition, the leading market players are leveraging innovative technologies, such as nanoparticles, microchips, ultrasound-guided delivery, and microneedle patches, to enhance drug delivery systems. Other factors, including the strategic collaborations between key players and technology startups to foster innovations in generic products, and technological advancements, are also catalyzing the market growth. Looking forward, IMARC Group expects the market value to reach US$ 482.5 Billion by 2027, growing at a CAGR of 7% during the forecast period (2022-2027).
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List of Top Generic Drug Manufacturing Companies:
Teva Pharmaceutical Industries Ltd.
Headquarters: Jerusalem, Israel
Teva Pharmaceuticals, owned by Capital Group companies, is a leading global manufacturer of generic drugs, active pharmaceutical ingredients (API), and over-the-counter (OTC) products. The company's mission is to engineer quality medicines to enhance patients' lives. It is also extensively investing in R&D activities to develop effective drugs for oncology, respiratory, migraine, and neurodegenerative disorders, thereby expanding its product portfolio to meet the evolving needs and challenges of the healthcare sector. Besides this, the company has its commercial footprints in 37 international markets, including Europe, Latin America, Asia-Pacific, Russia, the Middle East, and Japan.
Headquarters: Pennsylvania, United States
Mylan N.V. is a leading global healthcare company primarily engaged in developing and manufacturing intermediates, bulk actives, and oral dosages. In 2020, the company merged with Upjohn, an off-patent medicine division of Pfizer, to form Viatris. Its diverse product portfolio comprises:
- Biosimilar drugs
- Prescription Generic
- Branded Generic
- OTC Remedies for various medical disciplines.
Some of the fields include oncology, cardiovascular, diabetology, respiratory, dermatology, anesthesia, immunology, and gastroenterology.
Headquarters: Basel, Switzerland
Novartis AG is a leading biotechnology and pharmaceutical company formed through the merger between two Basel-based pharmaceutical and chemical companies, namely Ciba-Geigy and Sandoz. It provides patent-protected prescription medicines, generic pharmaceuticals, and oncology biosimilars. Novartis aims to create transformative treatments in areas of significant medicinal needs by embracing digital revolution tools, such as innovative technologies, data analytics, and artificial intelligence. Over the years, the company has acquired various prominent organizations, including:
- EBEWE Pharma
- Oriel Therapeutics
- The Medicines Company.
Headquarters: New York, United States
Pfizer Inc. is a global research-based biopharmaceutical company primarily engaged in discovering, developing, manufacturing, and marketing medicines, vaccines, consumer health products, and medical devices for various therapeutic and healthcare fields. The company is known for producing some of the top prescription and generic drugs, such as
- Cholesterol-lowering Lipitor
- Eliquis Blood Thinners
- Celebrex for Pain Management
- Erectile Dysfunction Drug Viagra
- The Pfizer-BioNTech Covid-19 Caccine is branded under Comirnaty.
Sun Pharmaceutical Industries Ltd.
Headquarters: Mumbai, India
Sun Pharmaceutical Industries Ltd. is the fourth largest specialty generic pharmaceutical company globally. It mainly develops and markets generic drugs targeted at chronic therapeutic areas, including cardiology, neurology, orthopedics, gastroenterology, and psychiatry. These are produced in various dosage forms, such as oral tablets and capsules, injectables, creams, and nasal sprays. In addition, Sun Pharma also manufactures:
- Antiretrovirals (ARVs)
- Intermediates for other Drugmakers
The company also markets its products worldwide and has 25 manufacturing plants across the United States, Asia, and Europe.
Fresenius SE & Co.
Fresenius SE & Co. is a global healthcare group that offers a range of dialysis products and services to hospitals and clinics. It operates through four key business segments, namely Fresenius Medical Care, Fresenius Kabi, Fresenius Helios, and Fresenius Vamed. These legally independent entities provide additional services, including intravenously administered:
- Generic Drugs (IV drugs)
- Essential Drugs
- Clinical Nutrition Products
- Transfusion Technology-enabled Devices
- Facility and Project Management
The company is also taking several steps to make high-quality healthcare accessible to everyone, such as adopting digital tools, investing in R&D activities, recognizing significant trends, and signing partnerships.
Headquarters: Mumbai, India
Lupin Limited is an innovation-driven multinational pharmaceutical company that manufactures generic formulations, biotechnology products, and APIs. Some of its main bulk actives include Rifampicin, Cephalosporins, Ethambutol, and Pyrazinamide. These drugs primarily cater to the cardiovascular, diabetology, central nervous system, asthma, pediatrics, and anti-tuberculosis fields. Lupin also possesses competencies in phytomedicines, which is a branch of the plant and herbal drugs supported by the discipline of modern medicines. The company aims to develop high-quality, affordable pharmaceuticals to address unmet patient needs. This is facilitated by the establishment of state-of-the-art manufacturing facilities and extensive investments in R&D activities to expand learning and technology.
Endo Pharmaceuticals Inc.
Headquarters: Pennsylvania, United States
Endo Pharmaceuticals Inc. is a leading generic and specialty drugs company focused on delivering quality, life-enhancing therapies in endocrinology, orthopedics, pain management, urology, and bariatrics. It has more than half of its shares allotted to an investment firm, Kelso & Company. The company primarily operates through its Branded Pharmaceuticals, Sterile Injectables, Generic pharmaceuticals, and International Pharmaceuticals segments. Some of its significant products comprise
Aurobindo Pharma Limited
Headquarters: Hyderabad, India
Aurobindo Pharma Ltd. is a leading manufacturer of generic pharmaceuticals and APIs. Its area of activity consists of six major therapeutics, including antibiotics, antiretrovirals, cardiovascular products, anti-allergics, gastroenterological, and central nervous systems. The company aims to expand its product portfolio with the development of high-value products in the fields of oncology, hormones, biosimilars, and innovative drug delivery systems, such as inhalers, patches, and depot injections. It sells and commercializes these products in around 125 companies with the help of its marketing partners, AstraZeneca and Pfizer. In addition to this, Aurobindo Pharma has acquired various major companies since its inception, including;
- Generis Farmaceutica SA
- TL Biopharmaceutical AG
Aspen Pharmacare Holdings Limited
Headquarters: Durban, South Africa
Aspen Pharmacare is a leading multinational specialty and branded pharmaceutical company with a commercial footprint across more than 50 countries globally. It is focused on manufacturing and marketing a wide range of post-patent, branded medicines and domestic brands spanning various therapeutic areas. Some other product types include solid oral dose, liquids, semi-solids, biologicals, steriles, and APIs. Its key segments include Manufacturing and Commercial Pharmaceuticals that primarily comprise Regional Brands and Sterile Focus Brands. The company is strategically investing in relevant manufacturing facilities and has operations around six continents. Besides this, Aspen also holds international manufacturing approvals from some of the most prominent global regulatory bodies, including the United States Food and Drug Administration (FDA), Australian Therapeutic Goods Administration, and the European Directorate for the Quality of Medicines.
About IMARC Group:?IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the generic drugs market and regional GCC, Canada,?Brazil, East Africa, Europe, Latin America, North Africa, West Africa, Japan, United States, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
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- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development