Ranking TOP 25 Generic Drugs Pharmaceuticals Companies Q3 2023 Datantify

India supplies approximately 40% of generic and OTC drugs consumed in the US, meaning that in the near-to-medium term, the US will remain highly reliant upon India for access to many generic drugs. In 2024, the global market for generic drugs is projected to increase by USD3bn, a growth rate of 6.7% from 2023, bringing total sales to an estimated USD51bn. This growth is anticipated to be particularly strong in the Asia-Pacific (APAC) region (10% in 2024 to USD246bn), led by Mainland China and supported by wider demographic shifts and economic growth.

Spotlight on the generics industry: New analysis looks at access efforts of 5 major companies

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. Pfizer concluded the spin-off and merging of the Upjohn Business with Mylan on November 16, 2020. The company currently operates as a focused innovative biopharmaceutical company engaged in the discovery, development, manufacturing, marketing, sales, and distribution of biopharmaceutical products around the world as a result of the combination. Natco Pharma is a pharmaceutical company that manufactures and markets affordable medicines worldwide.

Global Healthcare: The Journey of Indian Generic Medicines to Worldwide Markets

• They have emerged as the key players in the pharmaceutical industry, contributing to the availability and affordability of generic drugs worldwide.
• Generic medicines play a vital role in enhancing healthcare accessibility, particularly in low- and middle-income countries where financial constraints hinder access to essential treatments.
• This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region.
• Low-income countries across various regions, including parts of Asia and Latin America, struggle with access to generics due to high out-of-pocket costs for patients, tariffs on imported medicines, and limited availability of essential drugs.
• Based on type, the pure generic drugs segment dominated the market in 2023 and held more than half of the global market share, 51%.
• Specializing in prescription medicines, vaccines, and consumer healthcare products, GSK offers a diverse portfolio spanning respiratory, HIV, oncology, and vaccines.

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. Rivopharm is a global pharmaceutical company specializing in the development, production, and distribution of generic pharmaceutical products. They focus on providing high-quality, cost-effective solutions in various therapeutic areas, including antibiotics, antidepressants, anti-inflammatories, epilepsy, and angina.

Despite initiatives to strengthen manufacturing, further efforts needed to safeguard product availability

India excels in generic medicine production, commanding 20% of global supply and leading vaccine manufacturing. With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry. Producing 60,000 generic brands across 60 categories, India meets substantial global demand and provides affordable HIV treatment. Generic medicines play a crucial role in bridging healthcare gaps on a global scale by providing affordable and accessible healthcare solutions. This blog post will discuss the importance of generic medicines in addressing healthcare disparities and their potential to improve health outcomes worldwide.

Par Pharmaceutical

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.

Top 10 Companies in Generic Drug Market in 2024

By offering lower-cost alternatives to expensive medications, it helps reduce healthcare costs and improves accessibility for patients. Generics and biosimilars are crucial in providing affordable and effective treatments for various diseases. This is particularly important in emerging markets, where access to affordable and effective medicines is limited, and communicable diseases remain significant public health concerns.

Want to find more generic pharmaceutical companies?

• Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history.
• They have also expanded internationally, with presence in 20 countries in Africa and the Middle East.
• A key factor contributing to the expansion of the worldwidegeneric drugs market is the expiration of patents protecting brandedmedications.
• 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.
• 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.
• SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976.
• CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke.

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.

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Encouragingly, the report found strong examples of how companies are engaging in adaptive R&D to tailoring products to the needs of people in LMICs, with nine adaptive R&D projects identified among the companies in scope. These include products specifically adapted for children; products adapted so that they do not require refrigeration; and formulations that simplify dosing regimens. Beyond his professional achievements, Anil is deeply passionate about the intersection of technology and healthcare.

#13 Eli Lilly And Company

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.

Teva Pharmaceuticals

Given their portfolios and footprints, these five companies – Cipla, Hikma, Sun Pharma, Teva and Viatris – can have a huge impact on access in LMICs. They can now work to significantly enhance their efforts by acting on the opportunities and the tailored recommendations set out in their respective company profiles. The report highlights untapped potential for companies to register more essential products in low- and middle-income countries (LMICs). Promisingly, in 90 out of 108 countries in scope, at least one company has registered a product, which indicates that the companies’ existing regulatory reach in LMICs is collectively broad. In March 1996, Ciba-Geigy and Sandoz merged, forming Novartis, a separate company with pharmaceutical and agrochemical operations.

Want to find more generic drugs companies?

They focus on providing specialty medicines at accessible prices and adhere to global standards. Landsteiner is a pharmaceutical company with over 20 years of experience in the Mexican market. They specialize in the development, production, and commercialization of healthcare products, including generic and biotechnological medications. They offer a wide range of high-quality prescription and over-the-counter pharmaceutical products. Torrent.com.br is a pharmaceutical company that specializes in the production and distribution of high-quality medications in areas such as cardiovascular and diabetes, central nervous system, and generics.

• Their crucial role lies in providing quality treatment at reduced costs, vital for the efficiency of healthcare systems.
• In November 2023, US President Joe Biden announced a strategic pivot towards reducing dependence on foreign-made drugs and Active Pharmaceutical Ingredients (APIs), highlighted by a USD35mn investment in domestic API production.
• 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.
• As these diverse initiatives unfold, they highlight a shared commitment to expanding the reach of high-quality generic medicines.
• Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally.
• 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.

#21 Regeneron Pharmaceuticals, Inc

We expect a positive impact for both patients and healthcare providers, as the lower cost could facilitate treatment adherence and reduce the financial burden on individuals and insurance systems. Teva Pharmaceutical Industries Ltd., also known as Teva Pharmaceuticals, is an Israeli pharmaceutical firm based in Petah Tikva. 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.

Key Companies in the Generic Drug Market

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. 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. 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.

#17 Takeda Pharmaceutical Co., Ltd

The generic drugs industry is a sector that focuses on the production and distribution of medications that are bioequivalent to brand-name drugs but are sold under their generic names. There are several types of companies in this industry, including large multinational pharmaceutical companies, smaller local manufacturers, and distributors. These companies offer a wide range of generic drugs across various therapeutic areas such as cardiovascular health, respiratory health, sofosbuvir price in germany and more. The industry is constantly evolving, driven by advancements in technology, increasing demand for affordable medications, and government policies aimed at promoting generic drug use. 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 Inven you’ll also get to know the company’s:

• 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.
• 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.
• By establishing a presence in diverse markets, they contribute to healthcare access and the overall economic development of their regions.
• A global leader in the generics space, Teva boasts a massive portfolio of over 1,600 molecules across various therapeutic areas.
• Sandoz Group AG is a leading global pharmaceutical company specializing in generic and biosimilar medicines.
• Specializing in therapeuticsolutions for critically and chronically ill patients, the company’s diverseportfolio encompasses biopharmaceuticals, clinical nutrition, MedTech products,generic IV drugs, and IV fluids.
• For instance, Sun Pharma recalled 747 bottles of generic diabetes medication in October 2020 because they could contain cancer-causing nitroso dimethylamine above the limit.
• However, while Europe and the United States have seen a significant increase in generic medicine usage, there has been little change in Asia and the Middle East/South Asia region.

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.

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.

Biodeal Laboratories Limited

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. By producing bioequivalentversions of brand-name medications, generic drug companies dramatically reducecosts while maintaining the same therapeutic efficacy. This democratization ofmedicine ensures that essential treatments—from antibiotics to cardiovasculardrugs—are not reserved solely for the privileged few but are accessible to allwho need them. It’s a cornerstone of healthcare equity, leveling the playingfield and empowering individuals to take charge of their health without theburden of financial strain. Par Pharmaceutical is a pharmaceutical company dedicated to helping people by providing quality medicines.

While such policies have the potential to increase domestic production of essential medicines, it will not be sufficient to cover an increasing list of generics shortages. We’re able to make these medicines affordable because we manage the entire value chain – from producing the active ingredients to developing formulations to distributing them through our streamlined supply chain. We leverage our inherent strength—one of the largest manufacturing bases in India—to provide a distinct cost advantage for our customers. Our in-depth knowledge of regulation and intellectual property also helps us to bring high-quality, regulatory-compliant medicines within reach of millions throughout the world. The global market for generic drugs is expected to grow from $435.3 billion in 2023 and projected to reach $655.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028. 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.

These companies play a vital role in ensuring the availability of cost-effective alternatives to brand-name drugs. As healthcare costs continue to rise, the industry is expected to continue expanding in order to meet the needs of patients and healthcare providers. The industry is also witnessing advancements in manufacturing techniques and the introduction of biosimilar products, further contributing to its growth. Is a global pharmaceutical company and a key player in the generic drug market which was founded in 1961. With several thousand drugs, including generics, biosimilars, and over-the-counter products, the company offers a wide range of healthcare options. With 40 manufacturing facilities, Mylan produces complex dosage forms, injectables, solid dosages, and active pharmaceutical ingredients, along with an industry-leading pipeline that includes several complex generics and global key brands.

In 2008, India introduced the People’s Medicine Scheme (Jan Aushadhi) to make quality generic medicines more affordable. Subsequently, in 2015, the program underwent a revamp and rebranding, now known as the Pradhan Mantri Bhartiya Jan Ausadhi Pariyojana (PMBJP). While generics share the same active pharmaceutical ingredient (API) as brand-name drugs, variations in characteristics such as formulation and packaging exist.

This concerted effort has enabled the company to extend its reachto over 15,000 pin codes, ensuring access to quality medications for patientsin tier 2 cities and beyond. With a portfolio comprising over 200 brands across26 therapeutic categories, the generics segment has achieved remarkable 9%growth, driven by the robust performance of flagship brands and successfullaunches of new products. 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). With a strategicemphasis on crafting intricate pharmaceutical products for global markets,Aurobindo specializes in tackling complex and challenging manufacturingprocesses. Auro Peptides, a subsidiary of Aurobindo Pharma Limited,concentrates on the development of peptide-based generic APIs, with aparticular focus on the oncology and diabetology segments. Teva Argentina is a leading pharmaceutical laboratory that develops and produces high-quality medications to improve the lives of patients and their communities.

This cost-effectiveness is a boon for developing countries and healthcare systems in developed nations striving to contain rising healthcare expenditures. Anticipating significant growth by 2030, the Indian generic medicine industry is driven by factors such as increased demand for affordable medicines, a growing geriatric population, and a skilled workforce. 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.