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Generic drugs

Generic drugs

Generic drugs: are they on par with more expensive brands?

Animation: Farah Hamade

In the United States, more than three-quarters of prescriptions are for generic drugs, non-branded drugs that can cost less than half of their branded counterparts. Generic drugs saved Americans and our health care system over $ 300 billion in 2019 alone.

The use of generics has more than doubled over the past decade, thanks to legislation favoring the production of generic drugs and the expiration of patents on widely used drugs. Despite this enormous growth, myths about the quality of generics persist. The drug safety experts at UCSF help us understand what is the same and what is different, and whether the brand should affect your choices.


MYTH # 1:

Generic drugs are second-rate fakes.

Non-branded products like spaghetti sauce or facial tissues often have a reputation for being worse – they may taste poor or be less durable than the products they imitate. Consumers sometimes associate generic drugs with second-rate fakes because of their lower prices; there is even skepticism among some suppliers.

It is time to get rid of this lingering myth once and for all. Generic drugs are not like other non-branded products, explains Candy Tsourounis, PharmD, professor of clinical pharmacy. They are in their own highly controlled category.

The myth of poor quality can be reinforced by the look, feel or taste of generics compared to brand name drugs that consumers are familiar with. This is because the inactive fillers, coatings, or liquids that help release the active ingredient – the drug itself – can vary.

“A lot of people see generics as somehow inferior due to observable differences,” says Tsourounis, as generics manufacturers modify these inactive components. It also explains why brand-name over-the-counter treatments like headache or allergy medications are different from over-the-counter generics. “For example, the brand name can be a tablet with a glossy coating that tastes good and lowers easily, while the generic can be a chalky white pill with a bitter aftertaste.”

“These differences exist, but the pharmacology – how the drug works in the body, the drug it contains and how long it takes to get to where it needs to be in the body – is the same,” explains Tsourounis, who oversees The UCSF Health Drug Formulary, the list of safe and effective drugs approved for use in the institution. “These are the most critical pieces,” she says. “The rest is just aesthetic.”


MYTH # 2:

Generic testing is not that rigorous.

Generic drugs don’t go through the same testing protocols as brand-name drugs, but there’s a good reason, explains Tsourounis.

“It’s not that the tests are less rigorous, but it’s different,” she says. It takes eight to 12 years of research and development, including clinical trials, to make sure a new drug is safe and effective. All the steps involved in bringing a drug to the market represent significant costs for the company holding the patent.

However, generics are not new drugs. When the patent becomes available on an existing approved drug, a generic manufacturer simply purchases or produces the already developed, tested and approved active component and formulates it into a tablet, capsule or other delivery vehicle. “This timeline is month, not years, ”says Tsourounis, so it costs a lot less to bring a generic drug to the market. When multiple manufacturers produce the same generic drug, competition drives prices down further.

The FDA requires that generics contain the same active ingredient as the branded version, have the same strength and format (such as a tablet or capsule), and use the same route of administration (such as by mouth or injection. ). To prove that their formulations work like the original drug, generic manufacturers must meet strict bioequivalence requirements, which means that the drug must be absorbed by the body and measurable in the blood at comparable levels, in a strict range, to those of the brand. drug name.

Tsourounis also points out that FDA regulations govern every detail of pharmaceutical manufacturing, from laboratory facilities to the training required for people who handle and package drugs.

Shalini Lynch, PharmD ’92, associate professor of clinical pharmacy, co-authored a study that found that generic drug skepticism is higher among auxiliary providers like nurses and medical assistants, who receive limited training in pharmacology, than among doctors. “Additional training on specific concepts such as bioequivalence,” explains Lynch, “could… promote a better understanding of the generic approval process.”


MYTH # 3:

Generics just don’t work as well as brand name drugs.

Especially when people switch from a brand name drug to a generic drug, they can experience modest changes. Tsourouni says to avoid jumping to the conclusion that the credits don’t measure up.

“There is a lot to assess before concluding that the generic drug does not work as well as the brand,” she says. Are there interactions with food or other drugs that affect the way the drug is absorbed? Does the person take the medicine at the same time each day? When she hears complaints that a drug didn’t work as quickly or caused a side effect, “there is usually no pharmacological reason for these effects, so I turn to other causes or maybe. even be a placebo effect based on these myths that generics aren’t as good, ”she said.

Pharmacies stock both generics classified as AB – drugs with the highest bioequivalence ratings – and drugs classified as B, which still meet strict FDA requirements but have slightly lower bioequivalence. Generics classified as B may be better suited for the initial use of a drug rather than replacing a branded version. While Lynch warns that additional monitoring may be needed for patients with conditions where small changes in blood levels could pose “immediate and serious risks,” she says the warning is about the situations and risks individual, not drug classes. Lynch and Tsourounis say that it is beneficial for all patients to discuss generic drug options with their doctor.

“The bottom line is that generic drugs provide the same active ingredient as the brand at a lower cost, and they should be used whenever appropriate,” Tsourounis explains. “These are good drugs. “

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Generic drugs

Generics and biosimilars get last-minute stay of rebates with Senate adjustments for Build Back Better Act – Endpoints News

The Senate Finance Committee on Saturday released the latest text of President Joe Biden’s $ 2 trillion spending plan, paid at least in part with new bargaining power for Medicare and inflation discounts that manufacturers of drugs will have to pay if their drug prices rise too quickly each year.

But now generic drugs threatened with shortages and biosimilars have been excluded from discounts, as demanded by their industry lobby groups. They said the inclusion of such discounts and negotiations could increase the likelihood of drug shortages and create barriers to competition.

According to the latest version of the text of the bill, generic Part D drugs that are in short supply may be exempted, as well as biosimilars, and the secretary of the HHS may make certain decisions that a drug may be eligible for a reduction. or a waiver, if access to the drug would be severely reduced.

Unlike Medicaid, under current law Medicare does not have the power to limit annual price increases for drugs covered by Part B or D. Rebuild Better Act would require drugmakers, starting in 2023, to remit the federal government if their prices for single-source drugs and biologics rise faster than the rate of inflation, according to KFF.

Manufacturers who do not pay this discount would be penalized and forced to pay at least 125% of the original discount.

The Congressional Budget Office (before the exclusion of generics and biosimilars) estimated that the net reduction in the federal deficit through rebates would be around $ 84 billion over 10 years (through 2031). The CBO also estimated that about 10 fewer drugs (out of a calculated total of 1,300 drug approvals) over 30 years would not be developed because of the lost money.

Finance Chairman Ron Wyden (D-OR) said in a statement: “Our package is historic. It would create well-paying jobs, lower the cost of raising a family, tackle the climate crisis and lower energy bills, build more affordable housing, and lower health care costs for families and the elderly.

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Generic drugs

For pushing generics, Valley set to get 45 more ‘Jan Aushadhi stores’ – Jammu Kashmir Latest news | Tourism

In 2 phases, 50 stores of this type are already operating

Irfan Tramboo

Srinagar, December 12: After setting up around 50 Jan Aushadhi stores in Kashmir, the Ministry of Health has initiated the process of establishing 45 more such stores as part of phase III to ensure that Kashmir patients are getting quality drugs by pushing generic drugs into the market by strengthening the chain of these stores.
Officials told Excelsior that as part of the latest Phase III, the department will establish 45 additional Jan Aushadhi stores across Kashmir under Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) in hospitals that operate around the clock.
Under phase III, 2 other Jan Aushadhi stores will be installed in Srinagar at PHC Zadibal and Khanmoh, 6 at Budgam at CHC Pakharpora, Kremshore, PHC Khag, Poshkar, Surasyar and Hardpanzoo.
In Pulwama district, the department is ready to open 5 Jan Aushadhi stores in PHC Awantipora, Kakpora, Khrew, Litter and Aribal; in Ganderbal, 5 other stores of this type will be installed at MMC Watlar, PHC Tulmulla, NTPHC Gutlibagh, Ganiwan and PHC Wussan.
In Baramulla, the department plans to open 5 stores of this type in PHC Boniyar, Kunzer, Dangiwacha, Tarzoo and Kreeri; in Kupwara, 9 of these stores will be opened in CHC Sogam, Kralpora, Zachaldara, Langate, Kralgund and Villgam, Trejgam, Kalaroose and Chogal.
In Bandipora, 4 other stores of this type will be opened in CHC Dawar, PHC Chuntimulla, Ashtingoo and NTPHC Naidkhai; in Anantnag, in the same way, 3 other stores are planned which will be born in SDH Dooru, PHC Larnoo and NTPHC Pahalgam.
In Shopian 2, such stores were provided at PHC Sedow, DK Pora; at Kulgam 4, such stores will appear at PHC Qaimoh, Qazigund, Mohammad Pora and PHC Nihama.
It should be noted here that the process of creating Jan Aushadhi stores was started in 2019 and as part of phase I of it, 23 stores were created, followed by phase II in which 32 of these stores have been approved. , bringing the total number of Jan Aushadhi stores in Kashmir hospitals to 55, including one in Leh and Kargil.
Previously, the additional chief secretary H&ME had asked officials to increase the number of Jan Aushudi stores across Kashmir, and according to the instructions, the marketing directors were invited to submit the proposals accordingly for the establishment of new stores in their districts.
Officials say the process is currently underway and in a week or so they will have approval for Jan Aushadhi stores under Phase III.
Within the framework of the PMBJP, by creating Jan Aushadhi stores, it aims to guarantee access to quality drugs for all sections of society and at the same time to promote generic drugs.
Nodal Officer Jan Ashudi for the Kashmir Division, Dr Nishat Shaheen told Excelsior that DHSK is currently processing the documents and the process is being carried out according to guidelines.
Interestingly, Jan Aushadhi’s drug prices are 50-90% lower than brand-name drugs on the open market, while the drugs are purchased only from suppliers certified by the World Health Organization. – Good manufacturing practices (OMS-GMP) to ensure product quality. (PTI)

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Generic drugs

Corporate Rx for Distressed Healthcare System: Affordable Generics Made in USA

Nexus Pharmaceuticals founder Mariam Darsot believes in altruistic acts like funding a labor and delivery ward in Sierra Leone, the country with the highest maternal mortality rate in the world. Photograph of Evan Jenkins

Nexus Pharmaceuticals is a 2021 Inc. Best in Business winner. With the second annual Best in Business, Inc. award recognizes companies that have made an exceptional impact on their industries, communities, the environment and society as a whole.

Meet the Illinois-based family-owned pharmaceutical company investing in nationwide manufacturing of drugs as treatment for the struggling healthcare industry.

Nexus Pharmaceuticals unveiled a state-of-the-art manufacturing facility in Pleasant Prairie, Wisconsin in June, doubling down on its mission to make high-quality generic drugs more affordable and accessible to patients in the U.S. The company’s three-story building, an investment of $ 250 million that will eventually employ more than 400, is the first national project of its kind in three decades. Meanwhile, production of US pharmaceuticals has largely shifted overseas so companies can take advantage of reduced environmental regulations and a lower-cost workforce. Today, only 28 percent of the active pharmaceutical ingredients supplied to the United States are produced here.

This over-reliance on foreign manufacturers has resulted in supply chain issues, quality-related recalls, and reduced export availability. All of this has contributed to rising pharmaceutical prices and national shortages, according to Mariam Darsot, CEO and founder of Nexus. And that, she says, prevents people from getting the timely treatment they might need. Also at the start of the pandemic, Indian manufacturers reduced exports of more than 20 essential pharmaceuticals and active ingredients to meet patient demand in their own country, which only added to the already heavy burden. of American health. the care industry, explains Darsot.

“I think it’s fair to say that the pharmaceutical industry has damaged its reputation a lot through price fixing allegations, substandard products from overseas or price increases. essential drugs, ”Darsot said. And she is committed to changing the industry, from the inside out. Since its inception in 2003, Nexus has prioritized the production of injectable drugs with historically rare critical needs. It has a long history of working with contract manufacturers to produce its FDA-approved generic pharmaceuticals, and now, with its own manufacturing facility, it can scale up its production even further to have a serious impact on the overall drug supply of consumers. United States. (Especially considering the fact that most of the drug shortages in the country are in generic drugs, Nexus’ specialty, the promise is clear.)

Over the past year, the company has already increased the US supply of two rare and life-saving pharmaceuticals: an injection of succinylcholine chloride, a drug in high demand to treat Covid patients, and an injection of potassium chloride, an IV solution with historically few manufacturers (including the one damaged in Hurricane Maria, resulting in a lasting shortage).

Darsot says she’s not interested in profit for profit – the company explicitly produces drugs that are needed in an attempt to lower healthcare costs for consumers. Nexus avoids private equity so as not to be influenced by shareholders. His altruism also extends beyond his core business. In 2020, for example, Nexus funded a labor and delivery unit at the Tanihanun health center in Sierra Leone, the country with the highest maternal mortality rate in the world. In 2021, the company also donated $ 176,000 to charitable organizations through employee matchmaking and community partnerships.

“Being a family business allows us to give back to a community that has given so much to our business and our family,” said Darsot. “This brings us back to our core mission of helping deliver affordable medicines to those who need them most.”

EXPLORE MORE Best in business COMPANIESRectangle

Extract from the Winter 2021/2022 issue of Inc. Magazine

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Generic drugs

Medkart: Generic Medkart Retail Chain Raises Rs 40 Crore In Series A Cycle

Medkart, the Ahmedabad-based generic drug retail pharmacy chain, said on Tuesday it had raised Rs 40 crore in its Series A cycle from Alkemi Growth Capital and Insitor Partners with the participation of angel investors , including Prashant Poddar and other UAE professionals and former CEOs of IIFL Asset Management.

Medkart, founded by Ankur Agarwal and Parsharan Chari, is an omnichannel pharmacy that helps people lower their medical bills through access to the best quality generic drugs at the most affordable rates.

Founded in 2014, Medkart provides generic medicines certified by WHO GMP in its network of more than 75 stores in more than 22 cities.

Medkart says it cuts medical costs by up to 85% and has saved more than Rs 200 crore for its clients to date.

The company said it has a loyal base of over 600,000 chronic disease patients and derives 80% of its revenue from loyal customers.

The company has so far focused on building a robust supply chain and improving final delivery to customers.

During its founding years the company was started up, quickly achieved a positive unity economy, and gradually expanded its operations across Gujarat and Rajasthan. More recently, she has embarked on building online channels to add a more personalized experience to the customer.

Speaking about fundraising, Ankur Agarwal, Co-Founder, said, “Every year 6 crores of Indians are plunged into poverty due to medical expenses. Considering that drugs are a basic need especially for chronic patients, we aim to disrupt the way drugs are consumed in India. As a technology company, we always aim to serve our customers no matter which channel they are comfortable with. ”

Mumbai-based investment bank Radix Capital Advisors acted as exclusive financial advisor to Medkart.

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Generic drugs

Generic Drugs Market Size To Exceed US $ 574.63 Billion

Ottawa, November 09, 2021 (GLOBE NEWSWIRE) – According to the new study report released by Precedence Research, titled “Generic drugs market by drug type, brand, drug route of administration, therapeutic application and distribution channel: analysis of global opportunities and industry forecast, 2021-2030 ”, the increasing prevalence of chronic diseases, especially cardiovascular disorders, has propelled the market demand for generic drugs.

Generic drugs are crushing the pharmaceutical industry market with record growth and a sustainable market trend, making it a lucrative area in which to operate.

The report is ready | To have Sample copy of the report OR any customization requirements @ https://www.precedenceresearch.com/customization/1205

A generic drug contains the same chemical substance as a drug that was previously protected by a chemical patent. After the patents on the original pharmaceuticals expire, generic drugs can be sold. The medical profile of generics is considered to be equal in terms of performance because the active chemical ingredient is the same. The generic drug contains the same active pharmaceutical ingredient (API) as the brand name drug, but it can change in terms of manufacturing technique, formulation, excipients, color, taste and packaging. The profitability of generic drugs has contributed to a competitive advantage over brand name drugs is the main factor adding to the growth of the market.

The crucial factors responsible for the growth of the market are:

  • The low cost of generics as an alternative to brand name drugs
  • Large number of brand name drug patents expired
  • Initiatives from governments and other regulatory bodies around the world

The expiration of brand name drug patents to open up new avenues for generic drug players to enter on the market

The expiration of brand name drug patents continues to increase, offering huge potential opportunities in the drug market. Generic drug manufacturers have constantly focused on developing and launching various innovative drugs as well as formulations such as biosimilars which are helping in the growth of the market. In addition, government initiatives to promote the manufacture of generic drugs for deadly chronic diseases have further stimulated the market growth in emerging economies in particular. In addition, the growing aging populations across the world who are more prone to various diseases have fueled the growth of the market.

Global Generic Drugs Market Size and Estimates, by Brand, 2021-2027 (USD Billion)

Brand segment2021202320252027TCCA (2021-27)
Brand generics200.60234.66272.41313.867.75%
Pure generics213.96230.32246.06260.773.35%
Total414.56464.98518.45574.635.59%

Oral generics seeking an advantage due to their most popular route of drug administration

Major advantages associated with oral generics such as convenience of oral drug administration, patient preference, cost-effectiveness, and ease of large-scale manufacture of oral dosage forms, oral medication is the most common route of administration. more widespread. About 65 percent of commercially available generic drugs are taken orally. Oral formulations account for approximately 90% of the global market share of all pharmaceutical formulations intended for human use, according to current estimates. Orally administered pharmaceuticals make up about 84 percent of the top-selling pharmaceuticals. They are the main contributor to the growth of the market due to the preferred and cheap option. Additionally, they are patient friendly, especially in geriatric and pediatric populations, and are relatively easy to create compared to their large molecule rivals.

HIGHLIGHTS OF THE STUDY

  • The oral segment of the administration route is estimated to grow at a remarkable rate and represent the largest share throughout the study period.
  • Brand-name generics dominate the generic drug market in 2020, but pure generics are expected to overtake brand-name generics by 2027.
  • The Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period owing to the rapid penetration of local players in the market.
  • North America dominated the generic drug market and is expected to maintain its trend throughout the forecast period.
  • The Cardiovascular segment of Therapeutic Applications segment posted significant revenue share in the year 2020, while the Oncology segment was poised to grow at the fastest rate for the foreseeable future.
  • The retail pharmacy holds the leading position in the distribution channel segment; however, online distribution grows at a significant rate during the forecast period.

Asia Pacific region to gain ground in the global generic drug market due to lower manufacturing cost and highly skilled labor

Asia-Pacific is expected to show significant traction in the market during the forecast period. This is attributed to lower manufacturing costs and highly skilled labor in Asian countries. According to the India Brand Equity Foundation, India has the second largest number of US FDA manufacturing plants outside of the United States that are involved in the manufacture of generic drugs. In addition, the manufacturing cost is 33% lower in India than in the United States, which increases the accessibility of generics in these countries.

Global Generic Drugs Market Size And Estimates, By Region, 2021-2027 (Billions USD)

Region202120242027TCCA (2021-27)
North America149.46165.00178.773.03%
Europe121.34136.67151.473.77%
Asia Pacific98.08130.01168.149.40%
Latin America29.9938.8849.368.66%
Middle East and Africa15.6920.7926.899.40%
Total414.56491.35574.635.59%

Asia-Pacific has placed a strong emphasis on increasing the supply of drugs at lower prices, even if this requires purchasing from non-traditional sources, with a historically low rate of drug use. generics. Hence, emerging countries such as India and China are complementing the growth of the generics market.

In 2019, generic and biosimilar pharmaceuticals saved the U.S. healthcare system $ 313 billion, including $ 96 billion in Medicare savings and $ 48.5 billion in Medicaid savings. Generics fill 90% of prescriptions in the United States for just 20% of the cost, at a time when access to reliable, cheap, high-quality prescription drugs is more critical than ever. In 2019, the average primary co-pay for generics was $ 6.97 compared to the average primary co-pay for brand-name drugs of $ 56.32. These supporting factors are expected to drive generic drug sales over the next few years.

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Market competitiveness and business prospects

The global generic drug market is fragmented due to the presence of several large and small companies spread across the world. The main market players are adopting new strategies to gain attractiveness on the market. The report provides in-depth competitive analysis and profiles of major market players such as Mylan NV, Abbott Laboratories, ALLERGAN, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, STADA Arzneimittel AG, GlaxoSmithKline Plc., Baxter International Inc., Pfizer Inc., Sandoz International GmbH and others. Other players operating in the value chain are AurbindoPharma, Sun Pharmaceutical Industries Ltd., Aspen Pharmacare, Fresenius Kabi Ag, Lupine, Novartis, Glenmark, Sawai, PiramalPharma Solutions, Hikma, Cipla, Dr. Reddy’s, Endo, Stada and Mallinckrod between others.

Main market segments covered:

By type of drug

By brand

By drug administration

By therapeutic application

  • Central nervous system (CNS)
  • Cardiovascular
  • Dermatology
  • Oncology
  • Respiratory
  • Others

Key distribution channel

  • Hospitals Pharmacies
  • Retail pharmacies
  • Others

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Click here for See the table of contents of the full report

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About Us

Precedence Research is a global market research and consulting organization. We provide an unmatched nature of offering to our customers around the world, in all industry verticals. Precedence Research has expertise in providing in-depth market intelligence as well as market intelligence to our clients across various companies. We are obliged to serve our various clienteles present in companies of medical services, health, innovation, new generation technologies, semiconductors, chemicals, automotive, aerospace and of defense, among various companies present in the world.

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Generic drugs

Global Generic Drugs Industry To 2026 – North America Has Dominated Overall Market And Expected To Maintain Dominance

DUBLIN, November 09, 2021– (BUSINESS WIRE) – The report “Generic Drugs Market – Growth, Trends, COVID 19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.

The global generic drugs market is valued at around USD 263 billion in 2020 and is expected to register a revenue of USD 385 billion in 2026, with a CAGR of 6.58% over the forecast period.

Companies mentioned

  • Mylan NV

  • Abbott Laboratories

  • Abbvie (Allergan)

  • Teva Pharmaceutical Industries Limited

  • Eli Lilly and company

  • STADA Arzneimittel AG

  • GlaxoSmithKline Plc.

  • Baxter International Inc.

  • Pizer Inc.

  • Sandoz International GmbH

  • Sanofi

  • Sun Pharma

Key market trends

Injectables segment is expected to gain significant share of the studied market during the forecast period

Tablets, capsules, pills are not the only way to deliver the drug into the body, the injectable is another way to deliver the drug, and this is considered to be the most efficient way because of the bioavailability of the drug by this route is higher than the other routes. Nowadays, new advances are occurring in this segment of injectables. This way, the drug takes less time to react.

Recent developments in needleless injectors have contributed to its growth. For example, Bespak Europe Limited works closely with its biopharmaceutical partners to develop a personalized device for the needs of specific patient groups. Additionally, the prevalence of diabetes, cardiovascular issues, cancer, and several other chronic conditions will help injectables grow further during the forecast period.

Moreover, based on the application segment, Cardiovascular Drugs contribute more to generate the overall revenue of Generic Drugs, as the cases of cardiovascular diseases are increasing year by year around the world, especially heart failure, heart failure, High blood pressure, high cholesterol, angina, strokes and a few others are also involved. The increase in cardiovascular cases is due to lack of physical exercise, eating habits which mainly contain fat and sugar, other reasons are also involved. As the cardiovascular cases increase, the demand for their treatment will also increase so that the market will experience significant growth during the forecast period.

North America has dominated the overall market and is expected to retain its dominance

North America holds the maximum share of revenue generation from generic drugs. The reason for this high turnover is due to the presence of many players in the countries of North America and they continue to focus on the introduction of new products and the market as well as on the state prescription model. United, which consists mainly of brand name generic drugs. . Hence, the global generic drugs market will tend to grow here during the forecast period.

Asia Pacific has shown the fastest growing trend in the global generic market due to the increased awareness of people related to any disorder, the increase in population can also be attributed to the increase in the demand for generic drugs. Countries like India, China in Asia-Pacific contribute more than other nations.

India is the main supplier of generic drugs to the United States and European countries. According to the recent FDA report, there are around 40 major generic pharmaceutical companies in India. India has many pharmaceutical companies which manufacture a large number of generic drugs, for example Alkem Laboratories, Sun Pharma, Aurobindo Pharma Limited, several others are also present. Hence, the global generic drugs market will tend to increase during the forecast period.

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market overview

4.2 Market drivers

4.2.1 Growing prevalence of chronic diseases

4.2.2 Increase in the geriatric population

4.2.3 Increase in health spending

4.3 Market restrictions

4.3.1 Strict government regulations

4.3.2 Adverse drug reactions

4.4 Porter’s five forces analysis

5 MARKET SEGMENTATION

5.1 By route of administration

5.2 By application

5.3 By distribution channel

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information on this report, visit https://www.researchandmarkets.com/r/hpxgga

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211109005860/en/

Contacts

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Generic drugs

2 US Sun Pharma units to pay $ 85 million in MDL generic drugs

By Hailey Konnath (Nov 5, 2021, 10:04 p.m. EDT) – Two U.S. subsidiaries of Indian drugmaker Sun Pharma have agreed to pay a combined $ 85 million to a proposed class of direct buyer applicants under a large multidistrict dispute over the alleged price. fixing of generic drugs, the companies reportedly disclosed.

Taro Pharmaceuticals USA Inc. will pay $ 67.6 million to settle the antitrust dispute in Pennsylvania federal court, the company revealed Thursday in a filing with the United States Securities and Exchange Commission.

Taro has entered into an agreement with César Castillo LLC, FWK Holdings LLC, Rochester Drug Cooperative Inc. and KPH Healthcare Services Inc. on behalf of the putative class of all …

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Khuba calls on doctors and health workers to promote the use of generic drugs

Calling on doctors, health workers and ASHAs to promote the use of generic drugs, Union Minister of State for Chemicals and Fertilizers Bhagwanth Khuba said on Friday that the drugs significantly reduce the cost drugs for people.

Speaking at Janaushadhi Mitra Sammelan, Mr. Khuba said that 145 generic drugs are available at Janaushadi Kendras and these drugs are sold at a cost less than 70% to 90% of the cost of brand name drugs. “By making generic drugs available at an affordable price, Prime Minister Narendra Modi has helped people save on drugs to a great extent,” he said.

Citing an example, Mr Khuba said that the brand name drug Atorvastatin, which is prescribed to lower cholesterol, costs 12 per pill, while the same drug is available at 0.98 paise at a generic pharmacy.

The Union Minister of State urged the government and private doctors to prescribe more generic drugs. He said that Anganwadi workers and ANMs should educate doctors and the population about generic drugs. He also called on the operators of Janaushadhi kendra to carry out activities to raise awareness about the availability of medicines for hypertension, diabetes and chronic diseases, which are regularly consumed by many people.

During the interaction with Mr. Khuba, some of the representatives of the 82 Jananushadhi Kendra in Dakshina Kannada pointed out the poor quality of some of the drugs provided. Another Kendra operator raised the issue of getting Suvidha sanitary napkins for the price of 1, for which there is good demand. A doctor, who has a Janaushadhi Kendra near his hospital in Puttur, expressed the need for more essential drugs in the kendras.

Khuba said the ministry was taking action to address issues related to the quality and supply of medicines. “It’s an ongoing process and we are responding to your concerns. We sincerely believe in making quality essential medicines available to the population, ”he said. Changes are being made to the Janushadhi Sugam app to give people a clear idea of ​​the drugs available in the kendras, he said.

MP Nalin Kumar Kateel and MP for Mangaluru City South D. Vedavyas Kamath spoke.

Mr. Khubha and Mr. Kateel presented the Janaushadhi Prabhuddi Prize to the Udupi District Administration, the district being the first among Karnataka districts in terms of sales of generic drugs. The two men also presented Janaushadhi Mitra Awards to seven people, including three doctors, for the promotion of Janaushadhi Kendras.

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Generic drugs

The pros and cons of generic drugs explored

A patient who takes lorazepam (a generic version of Ativan) for her anxiety tells me that her medications have not worked as before in the past few months. She can’t identify what’s wrong, but she doesn’t like how it makes her feel. She thinks to herself that the pharmacy must have changed providers, but that shouldn’t really matter, because aren’t all generics supposed to work the same? Zoom in on some of the often overlooked facts about generic drugs.

What are generic drugs?

When a new drug is approved, it is patented for up to 20 years, giving the original manufacturer time and space in the market to recoup some of the costs of research and discovery. When the patent expires, other companies are allowed to manufacture a similar drug (a generic) that is “bioequivalent”, which means that it delivers the same active ingredient to the same part of the body, over the same length of time. than the original drug.

Are Generic Drugs Less Expensive?

The cost of producing a generic is much cheaper than the original, and competition from several manufacturers drives the price down even further. The price difference is greatest for drugs whose patents have long expired and whose market is dominated by generics. For example, the average monthly retail price of lorazepam is $ 24, compared to $ 1,386 for Ativan.

Insurance companies encourage patients to choose generics with a lower co-payment and sometimes categorically refuse to cover brand-name drugs. On the other hand, pharmaceutical companies are offering coupons and discounts to offset the direct cost of brand name drugs in order to maintain their market share.

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Who takes the generic drugs?

Almost everybody. In 2020, 90% of all prescriptions in the United States were filled with generics, and that number has steadily increased since the Drug Price Competition and Patent Term Restoration Act of 1984. (also known as the Hatch-Waxman Act) opened the regulatory valve. in the manufacture of generic drugs. It is estimated that the use of generic drugs has saved Americans $ 313 billion a year in health care costs.

Are there any downsides to generics?

Quality control is a major concern. Companies reduce their costs by outsourcing production; the vast majority of generic drugs in America are made in India and China, while others rely on raw ingredients from these countries. Factories are not as frequently inspected by the FDA as those located in the United States and may not maintain the same level of production. Some unethical companies have even tampered with data to gain regulatory approval. In 2008, a Chinese batch of contaminated heparin, a crucial blood thinner for open heart surgery, killed at least 81 patients in America and injured hundreds more. Fortunately, these disasters are rare.

More often than not, we see inconsistencies in the quality of generics and, therefore, in their biological effects. Unlike the single-source brand name drug, generics are produced by more than one company in more than one location. Pharmacies change supplier freely depending on price and / or availability. Even though the concentration of the active chemical remains the same, changing inactive ingredients like fillers, binders, and dyes can cause different reactions when you take the pill.

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What should I do if my generic is not working properly?

There are several options. Ask the pharmacist if a version of the medicine from the previous supplier is still available. Change your pharmacy, which will likely change providers. Some drugs have an “authorized generic” which is exactly the same as the brand name, produced by the same company and factory, but sold without the brand name. It is more expensive than other generics, but has quality assurance from the original pharmaceutical company. If you develop a true allergy or severe intolerance to generics, ask your doctor to specify “brand name only” on the prescription, although this may require passing certain hurdles for insurance to pay for it.

Usually we don’t look twice at the pill bottle after filling a prescription. But as we strive to become more informed healthcare consumers, we hope this generic drug information will encourage you to take a closer look, and perhaps say “Yes” when the pharmacy cashier tells you. ask if you have any questions for the pharmacist about your medicine.

Qing Yang and Kevin Parker are a married couple living in Springfield. Dr. Yang received her medical degree from Yale University School of Medicine and completed her residency at Massachusetts General Hospital. She is an anesthesiologist at HSHS Medical Group. Parker has helped formulate and administer public policy in various cities and state governments across the country. He was previously the Group Information Director for Education at the Illinois Department of Innovation and Technology. This column is not intended to be a substitute for professional medical advice, diagnosis or treatment. Opinions are those of the authors and do not represent the views of their employers.

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