Top 10 Companies in Generic Drug Market in 2024

TevaPharmaceutical Industries Limited is a renowned global pharmaceuticalcorporation dedicated to facilitating worldwide patient access tocost-effective medications and leveraging innovations to enhance healthoutcomes. The company’s overarching objective is to assume a prominent globalposition in generics, pioneering medicines, and biopharmaceuticals, therebyenhancing patient well-being. Sun Pharma is a global pharmaceutical company committed to conducting business with the highest standards of professional integrity and ethical behavior. They offer a wide range of pharmaceutical products and aim to improve the health and well-being of people around the world.

Aurobindo Pharma

Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare. In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers. In addition to providing system-critical products and services for critical and chronically ill patients, the company has a strong distribution network, which allows it to efficiently distribute products worldwide. As part of its research and development efforts, Fresenius Kabi develops new generic drugs and pipeline products.

Opportunities for Generics in Emerging Markets

Many blockbuster drugs have met their expiry in the European region in recent years, which has given the manufacturers of generic drugs a significant opportunity to grow. The increasing number of initiatives by the European governments favoring generic drugs is fuelling the European market growth. In addition, the growing aging population in the European region supports regional market growth. The presence of notable generic drug manufacturers in Europe, such as Teva Pharmaceutical Industries Ltd., Mylan NV, and Novartis International AG, favors the growth of the generic drugs market. These are long-term illnesses caused by genetic, environmental, behavioral, and psychological factors. Non-communicable diseases (NCDs) such as cardiovascular disorders, chronic respiratory diseases such as COPD and asthma, malignancies, and diabetes are the most common.

Bringing expensive medicines within reach

They work closely with healthcare professionals to understand their needs and offer support programs for better patient management. China will retain the largest proportion of generic drug sales through to 2030, at around 70% of the APAC region. Growth within the generic drug sub-sector will be mainly supported by increased volume consumption, driven by rising medicine demand and cost-containment measures, such as centralised drug procurement programmes encouraged by regulatory authorities.

India’s Export Markets: Global Healthcare Accessibility

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.

• Generic drugs, being less expensive than their branded counterparts, are thus in higher demand to manage healthcare costs for this growing segment of the population.
• The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs.
• With a focus on key therapeutic areas like cardiovascular and respiratory health, Lupin offers innovative and cost-effective solutions to patients and healthcare providers worldwide.
• TevaPharmaceutical Industries Limited is a renowned global pharmaceuticalcorporation dedicated to facilitating worldwide patient access tocost-effective medications and leveraging innovations to enhance healthoutcomes.
• Opting for generic medications enables patients to save money while still receiving high-quality care.
• The company’s overarching objective is to assume a prominent globalposition in generics, pioneering medicines, and biopharmaceuticals, therebyenhancing patient well-being.
• The Nutritional Products segment encompasses a vast range of pediatric and adult nutritional items that are developed, marketed, and sold all over the world.

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Operating across 47 manufacturingfacilities worldwide, Cipla produces over 50 dosage forms and more than 1,500generic products, catering to a broad spectrum of 85 markets. Furthermore, itholds a prominent position among the top ten generic players in the UnitedStates. Macleods Pharma is a pharmaceutical company that offers a wide range of high-quality generic and branded drugs.

Indus Pharma (Pvt.) Ltd.

• Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry.
• Additionally,launches encompassed tacrolimus for immune system suppression post-organtransplantation and sugammadex for reversing the effects of muscle relaxants,reflecting STADA’s unwavering commitment to innovation and patient well-being.
• Intas is a leading multinational pharmaceutical formulation development, manufacturing, and marketing company.
• They offer a wide range of products such as Mycophenolate Mofetil, Propofol Injectable Emulsion, and Octreotide Acetate.
• It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor.
• The industry is also witnessing advancements in manufacturing techniques and the introduction of biosimilar products, further contributing to its growth.
• They focus on providing branded and generic medications, active pharmaceutical ingredients (APIs), and over-the-counter products.

DOC PHARMA exports its products to various European countries and has the potential for global expansion. 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. With a focus on quality, affordability, and innovation, Abbott continues to expand its portfolio through strategic acquisitions and R&D investments, ensuring the delivery of high-quality, accessible healthcare solutions worldwide. Aurobindo Pharma has established itself as a significant player in the global generic drug market with a substantial presence in critical markets worldwide, including the United States and Europe. The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed.

IVAX Argentina – Teva

Lupin is a global pharmaceutical company that specializes in the development, manufacture, and sale of a wide range of generic and specialty drugs. With a focus on key therapeutic areas like cardiovascular and respiratory health, Lupin offers innovative and cost-effective solutions to patients and healthcare providers worldwide. Aspen Pharmacare Holdings Ltd (Aspen) is a prominent supplier of specialty and generic pharmaceuticals for the treatment of various acute and chronic ailments. Aspen Pharmacare has a robust quality management system and adheres to strict regulatory compliance standards and is approved by multiple regulatory agencies on a global level. Aspen’s generic drugs provide a cost-effective option for patients, thereby enhancing accessibility to its products for a broader population, particularly in emerging markets.

#3 Novartis AG

The analysis reveals areas where companies can focus their attention as they step up efforts to expand access to their essential medicines. Anil Kumar P is the lead author of this report and the manager of the team responsible for authoring healthcare reports at Market Data Forecast. He holds a Bachelor’s degree in Pharmacy (Hons.) from BITS Pilani, one of India’s premier institutions. The Diagnostic Products segment contains a diverse range of diagnostic systems and tests that are produced, marketed, and sold around the world.

World’s Prominent Companies Offering Generic Drug; Top 10 by Revenue

Moreover, both the company’s North AmericaGenerics business and its Branded Generics segment in India and EmergingMarkets attained billion-dollar status for the second consecutive year inFY2023. Notably, Dr. Reddy’s launched the generic version of REVLIMID®(lenalidomide) Capsules in the United States, securing first-to-market statusand 180 days of generic drug exclusivity for capsules in 2.5 mg and 20 mgstrengths. Additionally, the company expanded its portfolio through theacquisition of the US generic prescription product portfolio of Australia-basedMayne Pharma Group Limited. Thecompany exhibits a robust presence in intricate generics such as injectablesand respiratory inhalers.

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They boast a diverse portfolio of over 1,400 molecules and maintain a strong presence in over 160 countries. Viatris’ focus on affordability and accessibility aligns well with the growing demand for generic drugs worldwide. The Established Pharmaceutical Products segment encompasses a broad range of branded generic medications made around the world and marketed and sold in emerging markets outside of the United States.

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.

Tabuk Pharmaceuticals Manufacturing Company

With a focus on quality medicines and ethical business practices, Teva strives to deliver innovative healthcare solutions and increase access to essential medications. Indian generic medicines have achieved global recognition, with pharmaceutical companies producing high-quality alternatives that are widely accepted in international markets. 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.

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.

Top 17 Leading Generic Drugs Companies Worldwide

The government’s involvement is essential in facilitating the export of generic medicines through policies and laws that promote competition and ensure affordability. Compulsory licensing is a significant measure allowing the production and export of low-cost generic drugs by bypassing patent monopolies, especially crucial during public health crises like pandemics. Additionally, governmental policies aim to streamline access to generic medicines, promote their use, reduce healthcare costs, and ensure affordability for all. Generic medications, being generally more economical than their branded counterparts, provide enhanced accessibility to a diverse patient demographic, notably benefiting those in low- and middle-income countries. These generic drugs present a financially prudent option, offering a cost-effective alternative for essential treatments, thereby expanding access to a wider population. This economic viability becomes particularly vital in regions where financial limitations frequently impede the availability of critical, life-saving medications.

• Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls.
• In2023, the company inaugurated its upgraded penicillin production facility, apivotal category within the global antibiotics market, in collaboration withthe Austrian government.
• What sets these eminent companies apart from their industry rivals are their unique qualities.
• The industry’s expansion goes beyond generic drug manufacturing, with Indian pharmaceutical companies increasingly emphasizing innovation, novel drug development, and substantial investments in biopharmaceuticals and biosimilar research.
• This commitment to quality ensures that patients worldwide can access affordable medicines without compromising safety or efficacy.
• This strategic diversification strengthens India’s position in the global pharmaceutical market.
• Technological advancements such as biosimilar development and Artificial Intelligence (AI) are enhancing generic drug manufacturing processes, while partnerships between pharmaceutical companies, like CytoReason and Pfizer, are driving innovation.

In addition, increasing initiatives from the MEA countries favoring generic drugs support regional market growth. The Asia-Pacific market is one of the promising regional markets for generic drugs worldwide. The APAC market held the second-largest worldwide market share in 2023, falling right behind North America. Countries such as India and China in the Asia-Pacific region dominated the global generic drugs business in volume. North America held the largest share of the global generic drugs market in 2023 and is predicted to maintain the same dominating position throughout the forecast period.

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• Besides, generic drugsare typically more affordable than their branded counterparts, making them anattractive option for both consumers and healthcare providers.
• 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.
• This focus on innovation has resulted in the development of complex generics and biosimilars, addressing unmet medical needs globally.
• He excels at analysing complex market trends and producing comprehensive, actionable reports that help companies foster innovation and enhance end user experience.
• Aurobindo is a global pharmaceutical company focused on the development and production of high-quality generic medicines.
• However, the issue of these medicines in certain countries is about something other than being expensive but about dubious quality.
• Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines.
• Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol.

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.

• 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.
• With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally.
• North America held the largest share of the global generic drugs market in 2023 and is predicted to maintain the same dominating position throughout the forecast period.
• The success of these top companies can be attributed to several shared elements and approaches.
• With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners.
• In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence.
• Through the research, development, manufacture, marketing, sales, and distribution of biopharmaceutical products around the world, they apply science and our global resources to offer cures to people that extend and dramatically improve their lives.

Discover the Top 17 Healthcare Diagnostics Companies revolutionizing healthcare with innovative diagnostic solutions. The concept of digital health is having a big impact on healthcare, especially when it comes to improving … InFebruary 2023, a wholly owned subsidiary of Sun Pharma secured final approvalfrom the US Food and Drug Administration (FDA) for its Abbreviated New DrugApplication (ANDA) concerning generic lenalidomide Capsules in multiplestrengths. Similarly, in May 2022, the company received final FDAapproval for its ANDA for generic Mesalamine Extended Release Capsules, 500 mg,based on Pentasa® Extended-Release Capsules, 500mg as the reference product. Ayushman Bharat PM-JAY, the world’s largest health assurance scheme, provides Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization.

GALPHARMA is a pharmaceutical company based in Tunisia that specializes in the production of generic medications. With over 20 years of experience, GALPHARMA is dedicated to providing high-quality medications across various therapeutic classes to meet the daily needs of patients with acute and chronic illnesses. The landscape of the generic drugs industry is constantly evolving, driven by factors such as changing patent expirations, market demand, and advancements in technology. As a result, the industry is highly competitive, with numerous companies vying for market share and striving to deliver cost-effective medications to consumers. Cipla’sgenerics division has solidified its leadership in the trade generics sectorthrough continual expansion of its portfolio and efficient executionstrategies.

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.

The company operates in more than 175 countries worldwide and some of the key markets include the United States, Canada, the United Kingdom, Germany, Japan, China, Brazil, and Australia. Teva Pharmaceuticals Industries Ltd. is a well-known brand in the pharmaceutical industry and is recognized for its quality generic drugs that are affordable, making them accessible to a larger patient population, especially in developing countries. As a manufacturer of generic drugs, Teva has an extensive revolade price in singapore product portfolio covering a variety of therapeutic areas, such as central nervous system disorders, respiratory diseases, cardiovascular diseases, and oncology. The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base. A world leader in generic drug manufacturing with operations in North America, Europe, Asia, and Latin America, Teva has a strong distribution network with a presence in over 60 countries.

Ciplais a global pharmaceutical enterprise deeply committed to enhancingaccessibility and affordability of medications for individuals in need. Itsdiverse product portfolio encompasses complex generics and medicationstargeting respiratory, anti-retroviral, urology, cardiology, anti-infective,CNS, and various other critical therapeutic segments. With an extensive rangeof offerings, the company is focused on strengthening its presence in keydomestic markets such as India, alongside South Africa, North America, andother pivotal regulated and emerging markets.

Additionally, collaborative effortswith partners focus on novel and intricate products like the BOTOX®(onabotulinumtoxinA) biosimilar and Glatiramer Acetate Depot, a long-actinginjectable form of the approved glatiramer acetate. Contributing significantly to India’s economy, the pharmaceutical industry is ranked 3rd worldwide in production volume and 14th by value. Projections indicate a soaring industry value of USD 130 billion by 2030, underlining its economic significance. Prioritizing long-term sustainability in business models ensures the widespread availability of essential treatments. Generics stand as pillars of global health, addressing challenges and fostering innovation for a more inclusive and sustainable healthcare future worldwide. 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.

This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region. Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs. With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market. They have also expanded internationally, with presence in 20 countries in Africa and the Middle East. Notable contributions include 40% of generics in the U.S., 25% in the U.K., 60% of global anti-retroviral drug supplies, and fulfilling 30% of UNICEF’s annual requirements. 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.

Alvogen is a global pharmaceutical company that develops, manufactures, and sells generic, brand, over-the-counter, and biosimilar products. The cost-effectiveness of generic medications has increased demand for the generic drugs market. Generic drugs increase competition in the industry, leading to a drop in prices and more people being prescribed generic drugs by healthcare providers. Generic drugs are 85 % less expensive than conventional drugs, so in the United States, 9 out of 10 prescriptions are filled with generic drugs, saving almost $2.2 trillion over the past decade. The company is dedicated to providing affordable and high-quality medicines while promoting sustainability.