As generic companies continue to expand and consolidate, they are likely to step up their efforts to explore options for developing products beyond chemical equivalents, moving into specialty generics, biogenerics, and proprietary molecules. As a result, the generics market is fast becoming a worldwide phenomenon.
“There used to be four big generic markets: the United States, Germany, the United Kingdom, and Canada,” says Doug Long, VP of industry relations at IMS Health. “Now generics are making inroads in most European markets. Japan and India are the next bastions in the emerging markets.”
In Europe, generic sales have had double-digit growth, and the market is poised to increase in the next few years. In major markets, such as France, Spain, Italy, and the Netherlands generic growth of 12% to 15% has been reported, according to a recent report from Kalorama Information.
The world prescription generic drug market was valued at $36.18 billion in 2007, a compound annual growth rate of 12.6% from 2002, according to Kalorama. In 2007, cardiovascular drugs…
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Experts on this topic
John J. Doyle, Dr.P.H., M.P.H. Managing Director and Practice Leader, Market Access, Quintiles Consulting, Hawthorne, N.Y.; Quintiles Consulting provides global product development, regulatory, and commercialization expertise to pharmaceutical, biotechnology, and medical-device companies. For more information, visit quintiles.com/consulting.
Doug Long. VP, Industry Relations, IMS Health Inc., Norwalk, Conn.; IMS Health provides market intelligence to the pharmaceutical and healthcare industries. For more information, visit imshealth.com.
Kay Morgan. Senior VP, Drug Products and Industry Standards Research and Compliance, Gold Standard Inc., Tampa;
Gold Standard, an Elsevier company, develops drug information databases, software, and clinical information solutions. For more information, visit goldstandard.com.
Jeffrey Yordon. Founder, President, and CEO, Sagent Pharmaceuticals Inc., Schaumburg, Ill.; Sagent is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing, and marketing pharmaceutical products, with a specific emphasis on injectable products. For more information, visit sagentpharma.com.