A major factor affecting this industry is the large number of
medicinal products going off patent. This will help in boosting this industry
in the coming years. An increase in the number of expired and expiring patents
for branded drugs is expected to drive the industry in the coming years. Increasing
incidence and population suffering from chronic diseases and disorders will
help attract the industry during the forecast period.
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In July 2020, Sol-Gel Technologies, Ltd., a clinical-stage
dermatology company focused on identifying, developing and commercializing
branded and generic topical medicinal products for the treatment of skin
diseases, announced today that information provided by Sol-Gel has done An
FDA-approved generic drug is expected to launch in the second quarter of 2021. In
2019, sales of brand name products exceeded $180 million in the United States.
As per the terms of the previously announced collaboration agreement, Sol-Gel
will receive payments based on product sales from the launch date.
Rise in number of mergers and
acquisitions is anticipated to help the industry grow in the coming years. For
instance, in March 2020, Hyderabad-based pharma major Dr Reddy’s Laboratories
bought Wockhardt Ltd.’s branded generics business in India, Nepal, Sri Lanka,
Bhutan, and Maldives and its manufacturing plant at Baddi in Himachal Pradesh
for around Rs 1,850 crore. Wockhardt is selling a part of the business as it
plans to ensure adequate liquidity. Dr Reddy’s is paying more than three times
of the revenues that Wockhardt’s business generates.
Over time, Wockhardt's strategic plan is to shift the specialty
antibiotic portfolio from acute therapeutic areas to more chronic businesses
such as antidiabetic and central nervous system. The sale will provide
sufficient liquidity to Wockhardt to invest in its growing business in India
and abroad.
Key Market Players
·
ZydusCadila,
·
Teva Pharmaceutical Industries Ltd
·
Mylan N.V.,, Hospira Inc.
·
Dr. Reddy’s Laboratories Ltd
·
Apotex Inc.
·
GlaxoSmithKline Pharmaceuticals Limited
·
Valeant,
·
Sandoz
·
Lupin Pharmaceuticals, Inc.
·
Sanofi,, AstraZeneca.
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