Top 10 Companies in Generic Drug Market in 2024

With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners. The company values privacy and adheres to policies to ensure the security of their customers’ personal data. 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. Additionally, breakthroughs in manufacturing processes and regulatory reforms have improved the efficiency and quality of generic drug production.

Global Generic Drugs Market Size

With over 5 decades of experience, we are actively involved in the development, manufacturing, and marketing of branded generic pharmaceutical products. Our mission is to spread smiles across communities by enhancing access to a better healthcare system through our innovative products and services. Orion is a pharmaceutical company that offers a wide range of generic prescription drugs, self-care products, and innovative medicines.

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Educating stakeholders on their benefits is crucial, and the generics industry holds a central position in improving access globally. Grupo NC is a Brazilian pharmaceutical company that specializes in the production and distribution of generic medications. 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.

Top 16 Generic Pharmaceuticals Companies

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. Many people throughout the world do not have access to good health because they can’t afford expensive medicines. Our Generic Formulations business addresses this urgent need by offering more than 200 high-quality generic versions of expensive innovator medicines—at a fraction of the cost—in over 20  countries around the world. Despite this, an analysis of ten essential medicines per company reveals that companies have registered these products – identified as priorities for access – in 77 countries in scope, out of the 90 in which they have existing regulatory reach.

Indus Pharma (Pvt.) Ltd.

Besides, generic drugsare typically more affordable than their branded counterparts, making them anattractive option for both consumers and healthcare providers. With risinghealthcare costs globally, patients and healthcare systems are increasinglyseeking cost-effective alternatives without compromising on quality. Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland that focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical products and eye care products.

Navigating Global Pharma: The Rise of Generic Drugs

• What sets these eminent companies apart from their industry rivals are their unique qualities.
• Their responsibilities include compliance with health, safety, and regulatory standards, and ensuring the efficacy and quality of the products.
• Thisleads to increased competition in the market, driving down prices and expandingaccess to affordable healthcare options for consumers.
• Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs.
• Generic drugs present several key benefits, foremost among them being the significant reduction in healthcare expenses.
• Krka is an international pharmaceutical company and one of the leading generic manufacturers 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. Their cost-effectiveness serves as a practical solution, bridging the availability gap between developed and developing nations. Additionally, by enabling broader production and distribution, generic drugs help alleviate medicine scarcity in underserved regions, contributing significantly to global health equity and addressing healthcare disparities worldwide. The quality issues of generic drugs are another significant challenge to the global market growth. To get approval from the Food and Drug Administration (FDA), generic medicines should be demonstrated to be the same as brand-name medicines in dosage, effectiveness, strength, safety, quality, stability, and how they are taken.

• Viatris is based in Pittsburgh, Pennsylvania, with global offices in Shanghai, China, and Hyderabad, India.
• 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.
• Chinese drug regulators have established stringent evaluation criteria and methods to ensure the efficacy and safety of generic drugs before granting market approval, followed by continuous quality oversight after their release.
• Grupo NC is a Brazilian pharmaceutical company that specializes in the production and distribution of generic medications.
• 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.
• The rankings show that the leading companies in this sector are experiencing significant growth and success.
• They’re considered the most effective because the drug’s bioavailability is higher through this route than the others.
• GALPHARMA is a pharmaceutical company based in Tunisia that specializes in the production of generic medications.

Novartis AG [Annual Revenue: USD 46.66 Billion]

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.

Novartis AG

With a production base that allows the manufacture of 13 different pharmaceutical forms, SOTHEMA represents 35 client laboratories ranking among the global R&D leaders. Drawingfrom over 50 years of experience in manufacturing active pharmaceuticalingredients (APIs), Cipla has developed over 200 generics and complex APIs. Thecompany is eager to collaborate with leading generic firms to introduce newproducts, thus expanding its presence in markets such as Japan, Korea, andBrazil. Moreover, Cipla is actively pursuing strategies to deepen itspenetration in the generic distribution channel through digital platforms,engaging directly with retailers. By March 2023, it had onboarded over 135,000retailers, facilitating enhanced market outreach and accessibility. 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.

Victoza & Saxenda Revenue, USDmn (FY2015-FY2024e)

Generics and biosimilars are crucial in providing affordable and effective treatments for various diseases. According to the World Health Organization (WHO), 90% of essential medicines are off-patent, allowing generic and biosimilar manufacturers to enter the market and develop these medicines at a lower cost, potentially introducing competition and increasing supply. This is particularly important in emerging markets, where access to affordable and effective medicines is limited, and communicable diseases remain significant public health concerns.

• 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.
• The company develops and manufactures medications to treat cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, hematologic diseases, solid tumors, immune disorders, and infections.
• Unlock industry potential through cutting-edge research, data-driven insights, and strategic guidance.
• Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option.
• They boast a diverse portfolio of over 1,400 molecules and maintain a strong presence in over 160 countries.
• The company offers a wide range of generic drugs for various ailments such as cardiovascular, central nervous system, and respiratory drugs.
• The National Health Mission (NHM) operates a free drug initiative aimed at supporting the provision of essential generic medications at no cost in public health facilities.
• Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry.
• They offer a wide range of products including generic drugs, biosimilars, and active ingredients.

Which segment by application held the largest share in the generic drugs market?

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. In addition, increasing initiatives from the MEA countries favoring generic drugs support regional market growth. The APAC market held the second-largest worldwide market share in 2023, falling right behind North America.

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.

Does this report include the impact of COVID-19 on the generic drugs market?

• Continuouslyexpanding its generic IV drug portfolio, Fresenius Kabi also introduced ZincSulfate, with one of its stock-keeping units earning a Competitive GenericTherapy (CGT) designation.
• It focuses on the research, development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished formulations.
• One unexpected finding from the investigation is the increasing competition among the top companies.
• In Africa, the African Medicines Agency (AMA) aims to enhance the continent’s pharmaceutical regulatory environment to ensure that the generic drugs supplied meet international quality standards.
• These medicines cost less than branded medicines as they do not involve repeated animal and clinical studies required for branded medicines.
• They offer a range of medications for various therapeutic groups, including anti-infectives and systemic treatments.
• With a strong commitment to research, quality, and affordability, Pfizer continues to innovate and expand its generic drug offerings, ensuring patients worldwide have access to essential medications at competitive prices.

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. The world’s leading producers of generic and biosimilar medicines – such as the five market leaders profiled in this report – occupy a central position in the global health landscape. By stepping up and taking action, they can ensure people living in LMICs have reliable, affordable access to essential medicines. For instance, in May 2022, Sandoz will expand its respiratory portfolio by launching the first generic pirfenidone in the United States for patients with idiopathic pulmonary fibrosis. Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue. Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option.

• 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.
• The administration said claims suggesting the generic drug is less effective are based on personal experiences.
• 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.
• Qilu Pharma Spain is the European subsidiary of Qilu Pharmaceutical, one of the leading pharmaceutical companies in China.
• Sun Pharmaranks as the fourth largest specialty generic pharmaceutical company globally,boasting revenues of USD 5.4 billion.

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. Committed to health, Teva is a global leader in generic and specialty medicines across various therapeutic areas. Sandoz is a pharmaceutical company that focuses on prescription and over-the-counter medicines. Normon is a pharmaceutical company that has been manufacturing high-quality prescription and non-prescription drugs for 80 years.

They offer a wide range of generic drugs and steroids, including Carbamazepine, Cefixime, and Betamethasone Sodium Phosphate. With their commitment to quality and the use of modern knowledge, Alborz Bulk aims to become a leading player in the pharmaceutical industry and achieve self-sufficiency in the national economy. With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years. According to market research, the global generic drugs market is projected to reach a value of $380 billion by 2025, reflecting its upward trajectory and economic magnitude.

The government is finding ways to restore the fiscal balance by transferring more funds to patients and private health insurance. The continued rise in the expenditure on prescribed drugs and the healthcare expenditure accounting for a substantial percentage of a nation’s GDP is attributed to the generic drug manufacturers producing effective products at an advantageous price. Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines. Also, as generic-friendly policies are expected to be enacted, the market share of patented drugs is expected to erode further in the next decade, thereby resulting in the growth of the generic drugs market worldwide. With a focus on affordability and accessibility, Mylan expanded its reach worldwide, particularly in emerging markets.

Companies are engaging in adaptive R&D, tailoring products to the needs of people in LMICs

Notably,in the Generics segment, STADA introduced Sugammadex, Fampridin, and Apixabanin 2023, providing healthcare practitioners and patients with additionaltherapeutic options. In summary, generic medicines are indispensable for sustaining healthcare systems, especially in Europe where costs are rising. Generic medicine suppliers play a vital role in reducing expenses, enhancing access to essential treatments, and bridging global healthcare gaps.

Amneal Pharmaceuticals

India has proactively implemented measures to ensure the quality and safety of pharmaceutical products. The Indian Pharmacopoeia (IP) undergoes regular updates to align with global standards, reflecting the nation’s commitment to industry excellence. Stringent laws govern the import, manufacture, distribution, and sale of pharmaceutical lapatinib cost uk goods, reinforcing India’s dedication to upholding high standards. 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.

Baxter International Inc. is a leading healthcare company renowned for its diverse portfolio of generic drugs, encompassing injectables, oral solid formulations, and essential pharmaceuticals across various therapeutic areas. With a history dating back to 1931, Baxter has earned recognition for its commitment to quality, innovation, and affordability. Leveraging strategic partnerships and investments in R&D, the company continues to expand its offerings and enhance its manufacturing capabilities to meet the evolving needs of healthcare providers and patients worldwide. Beximco Pharmaceuticals Ltd. is a company that specializes in the manufacturing and marketing of generic pharmaceutical products. They offer a wide range of high-quality and affordable medicines for various therapeutic areas.