The government has set ambitious target to boost the medical devices industry in India, aiming to elevate it from its current US$ 11 billion valuation to US$ 50 billion by 2030. Presently, over 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms. India is rightfully known as the “pharmacy of the world” due to the low cost and high quality of its medicines.
- Genentech is a US biotech corporation headquartered in San Francisco, California and an independent subsidiary of another Swiss-based multinational, Roche.
- The use of colour codes to identify generic medicines and keeping them in stock is of no use as a chemist has no compulsion to keep generic medicines in stock.
- Because of their similar potency, dosage, quality, intended use, and adverse effects, they are just as efficient and safe as patent medicines.
- Ranked as the fourth largest speciality generic pharmaceutical company globally, Sun Pharma operates 43 manufacturing facilities.
- Therefore, you should stay updated with the regulatory changes that could affect the industry and individual companies.
- Moreover, it owns and manages multiple multi-speciality hospitals and super-speciality centres across India.
- His dynamic leadership led the Zota Health Care Limited to become a major player in Pharma Industry.
- In my blog, you will find analytical profiles of Top Generic Pharma Companies in India.
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Factors such as economic status, culture society and educational status craft each individual’s society. And such factors also shape up the perception of generic drugs over branded medicines. As per the World Health Organization, all the essential medicines should be accessible and affordable to the public equally. As per the FDA (Food and Drug Administration), the authority is responsible for the evaluation of the drugs as a generic medicine.
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For a generic manufacturer, no such investment is required — not in development and not in marketing. The medicine’s formula is known, the clinical trials are complete; the generic maker’s only requirement is to demonstrate to regulators that its version is as good and effective in humans as the original. According to a recent EY FICCI report, there has been a growing consensus over providing new innovative therapies to patients. Indian pharmaceutical market is estimated to touch US$ 130 billion in value by the end of 2030.
New Store Opening
His unwavering dedication to achieving organizational objectives underscores his role as a dynamic leader in the healthcare industry. The litigation arises from a deal Novartis and Par signed in 2011 to put off the launch of a generic version of Exforge until September 2014, more than two years after the expiry of the patent. In return, Novartis agreed not to launch its own authorised generic of Exforge during a six-month period of exclusivity that the Par generic automatically secures as the first copycat version of the Novartis drug. So Novartis continued to profit from its monopoly even though it had no patent protection. Such are the devious ways of Big Pharma in which generic companies willingly collude.
h largest and fastest growing in the Indian market
His substantial contribution has helped India become a major player in healthcare across the globe. In India, Abbott develops and distributes more than 600 healthcare products to promote the health and well-being of citizens at all stages of life. Pfizer’s product portfolio includes vaccines, cardiac medications, maternal nutrition supplements, anti-infectives, gastrointestinal drugs, pain relievers, anti-inflammatory drugs, contraceptives, nutrition and immunity boosters and respiratory medications.
Should You Invest in Pharma Stocks?
- While anti-trust investigations can take years to arrive at definite chargeable conclusions, any adverse judgment or even early findings will impact the reputation of the firms involved besides casting a shadow over their business.
- The drug will be available through the government and hospitals only, the company said.
- “When you talk to companies they will tell you that this was an industry that used to be about nothing but price.
- Akums ventures into nasal sprays, offering a globally recognized dosage form known for convenience, enhanced compliance, and rapid onset of action.
- We have analyzed and compared the historical data, activities, revenue forecasts, and growth rates of our listed generic companies.
- It supplies branded generics in emerging countries such as India, South-East Asia, Africa, the Middle East and CIS, while generics are in developed markets of the USA.
The awareness about generic medicine and their benefits is close to 2 to 3 percent currently is expected to reach beyond 10% very soon. With this trend coming up Davaindia introduced a new initiative of COCO (company owned company operated) store format initiated in Apr 2021 in Surat. With a requirement of 1000 to 2000 sq ft, minimum investment and a good ROI ratio the model is a winning formula. With the response received for being a COCO store retail partner we look forward to deep penetration across the Indian terrain. From feisty companies and daring entrepreneurs who transformed the pharma industry with life-saving generics for HIV/AIDS and cancer patients, Indian generics have become compliant adjuncts of multinationals. They readily acquiesce with the voluntary licensing regime of innovator companies, no longer willing to take on giants with compulsory licences (CLs).
Shreeji Pharma International
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Why Akums ?
The industry manufactures about 60,000 different generic brands across 60 therapeutic categories. This can be rectified through Government campaigns, physicians and pharmacists because the public perceives them as an authentic source of information. Exposure to the environment, personality and beliefs has a huge impact on the perception formation. Any action taken by a person is highly influenced by a particular incident or event.
Doctors does not prescribe & suggest the Generic medicine, so are they safe?
PLI scheme for Bulk Drugs has laid the foundation for revitalizing of India’s bulk drug industry, aiming to achieve self-reliance and regain global competitiveness. Zydus Cadila is headquartered in Ahmedabad, India, and ranks 4th in the Indian pharmaceutical industry. The company was able to break the $1 billion mark for generics sales last year, jumping to $1.2 billion in sales in 2014 from $900 million in 2013. In India, Zydus launched more than 55 products, 19 of which were first-time launches, including adalimumab, the world’s first biosimilar of the $11 billion arthritis treatment Humira. The company was established in the year 1901 and is the leading Generic Pharma Companies in India. According to the recent report, revenues were $9.8 billion, and more than $9 billion in sales and purchased the rights to Allergan’s generics division in 2018.
He highlighted that the Union Government is working on bringing back production of Penicillin G in India after three decades. The pharma industry is highly competitive, and companies may engage in mergers and acquisitions to stay ahead. To understand how strong a company is, look at where it stands in the market, and its growth and check if its stock prices have changed recently. Headquartered in Mumbai, Ajanta Pharma operates 7 state-of-the-art manufacturing facilities in India. Among these, 6 facilities specialise in manufacturing finished formulations, and one facility focuses on producing Active Pharmaceutical Ingredients (APIs). The company offers a comprehensive range of speciality branded generic products catering to various chronic and acute therapies.
Join the Generic Medicine Revolution
Pharmaceutical companies heavily rely on research and development (R&D) to create new drugs and treatments. You must evaluate a company’s R&D investments and pipeline to ensure they are focusing on the right areas and have promising new products in development. Ajanta Pharma covers a wide range of therapy areas, such as cardiology, gynaecology, ophthalmology, respiratory, pain management, dermatology and more. It supplies branded generics in emerging countries such as India, South-East Asia, Africa, the Middle East and CIS, while generics are in developed markets of the USA. While generic drugmakers based in the US and elsewhere have also been cited by the US Food and Drug Administration for quality control problems over the years, India’s industry has come under fresh scrutiny recently as the agency steps up its inspections there.
According to law, when a new medicine is manufactured and marketed, it is protected under a patent for a specific time period. Once the patent-protected time expires, the other company can manufacture and market the drug until the time it has the same active pharmaceutical ingredients similar to their branded counterparts. The generic drug is cheaper as the manufacturer did not incur any costs of the original research, testing and marketing similar to the branded drug manufacturer. Bioequivalent tests are conducted for generic drugs to ensure and guarantee the bioequivalence is the same as the branded medicine. Bioequivalence implies when two medicines are similar; they have a physiological action on the user.
A generic drug, which is a pharmaceutical drug thatcontains the same chemical substance as a drug that was originally protected bychemical patents, helps ease much of economic burden off from the poor andmiddle class people. Par is advancing the research and development (R&D) pipeline of approximately 200 potential new products. Par is an operating company of Endo International plc, a highly focused generics and specialty branded pharmaceutical company delivering quality medicines to patients through excellence in development, manufacturing, and commercialization. Generic drugs can be defined as affordable versions of branded drugs which are brought into the market once the original drug manufacturer’s patent expires.
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Dr. Reddy’s shares fell 2.9% to close at Rs2,360.90, Sun Pharma dropped 0.9% to Rs548.45, and Cadila Healthcare retreated 0.9% to Rs497.70. According to a Citi Research report released on Wednesday, cumulative sales of the 13 drugs added in the lawsuit are estimated to be around $1.2 billion. “We reiterate our view (based on earlier due diligence) that proving price collusion in a court is easier said than done,” the report said. ZOTA respects the privacy of individual/visitors and is committed to protect the privacy of visitors on the ZOTA’s website. ZOTA will comply with all legal, regulatory and/or contractual obligations related to privacy.
Pharma’s dirty deals to stall generics
The Jan Aushadhi website lists the locations of generic medicine shops across different states of India. Additionally, Dr Samit Sharma says that there are about 72 shops in Rajasthan by the name of ‘Life Line Drug Stores’. These are operational in medical college hospitals, district, sub-district and satellite hospitals.
How do generic medicines benefit the patients?
This way, the Indian pharmaceutical industry has created an environment where branded drugs are considered superior to generic ones in terms of quality and efficacy. But, customers need to pay more attention to the availability of different generic drugs that are also cost-effective. A bench of Chief Justice DY Chandrachud, and Justices JB Pardiwala and Manoj Misra heard the petition filed by transparency activist and environmentalist Kishan Chand Jain under Article 32 of the Constitution. Dr. Reddy’s Laboratories Ltd., a global pharmaceutical firm based in India, was established. It manufactures and distributes generic drugs, over-the-counter drugs, over 60 active pharmaceutical ingredients, biotechnology accessories, diagnostic devices, and critical care to drug manufacturers in India and other countries.
Centrum’s report highlights that government initiatives like the PLI scheme and Bulk Drug Parks will boost India’s pharma sector, with US$ 353.4 million (Rs. 3,000 crore) allocated to enhance production and competitiveness. Exports of drugs and pharmaceuticals recorded a strong y-o-y growth of 9.7% during April-March FY24. India’s drugs and pharmaceuticals exports stood at US$ 27.82 billion in FY24 (April-March). The biosimilars market in India is estimated to grow at a compounded annual growth rate (CAGR) of 22% to become US$ 12 billion by 2025. “Every registered medical practitioner should prescribe drugs using generic names written legibly and prescribe drugs rationally, avoiding unnecessary medications and irrational fixed-dose combination tablets.”
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