Indian drug makers to face 10-12% price erosion in US generic market this year: ICRA

He pointed out that digital tools can automate routine decisions, freeing resources to focus on high-priority exceptions, improving turnaround times, and enhancing decision-making. “Adopting these technologies will improve operational efficiency and responsiveness to market demands,” he said. Shri R K Singh stated that the PLI scheme was also envisaged through the same vision to bring in localisation and value addition to India’s pharma and MedTech industry and simultaneously also reduce over-dependence on critical resources from certain geographies.

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• Except for composition patents for foods and medicines, the Patents Act covered the process patent, which was shortened to five to seven years.
• They contain the same active ingredients as brand-name medicines but may have different inactive ingredients, different dosages, and different labelling.
• Abbott India Limited is a subsidiary of Abbott Laboratories with its headquarters in Mumbai.
• “Every registered medical practitioner should prescribe drugs using generic names written legibly and prescribe drugs rationally, avoiding unnecessary medications and irrational fixed-dose combination tablets.”
• You can now buy generic medicines online and at the same time avail reliable and accurate medical information about medicines, illnesses, lab tests, Ayurvedic and over the counter health products.
• He addresses the lack of awareness about alcohol content and absence of guidelines, and suggests promoting awareness and implementing effective taxation policies to promote responsible drinking.

“After 8 years Medkart is currently operating over 107 stores, has educated over 7 lakh patients about generics and added 20,000 every month and saving more than Rs 10 crores monthly for the customers with a total of over Rs 350 crores till date,” he said. We dispense only World Health Organization Good Manufacturing Practices (WHO GMP) certified manufacturer’s generics which are at par with the prescribed brands or in some cases even better than them. On the price front, they are anywhere between 50-95% cheaper,” Ankur Agarwal, Founder, Medkart said. The new start-ups in the game have noticed that healthcare costs pinch the user on medicines as that part is rarely covered by any insurance.

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Pharmaceutical companies heavily rely on research and development (R&D) to create new drugs and treatments. You must evaluate a company’s R&D investments and pipeline to ensure they are focusing on the right areas and have promising new products in development. Ajanta Pharma covers a wide range of therapy areas, such as cardiology, gynaecology, ophthalmology, respiratory, pain management, dermatology and more. It supplies branded generics in emerging countries such as India, South-East Asia, Africa, the Middle East and CIS, while generics are in developed markets of the USA. While generic drugmakers based in the US and elsewhere have also been cited by the US Food and Drug Administration for quality control problems over the years, India’s industry has come under fresh scrutiny recently as the agency steps up its inspections there.

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Wherein 74% is allowed under the automatic route and thereafter through the government approval route. Lupin’s generics business accounted for 90% of the company’s total revenues in the US in 2018. The IQVIA Generics Module ranked 51 out of the 157 generic products the company markets as number one by market share in the US, as of March 2018. Healthcare expenses pushed 60 million Indians beneath the poverty line in the year 2011. Therefore, even the slightest drop in the medicine prices will free several households from medical poverty.

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All our medicines and healthcare products are manufactured at WHO-GMP certified plants. The company develops and markets high-quality generic products at accessible prices that have made Krka a recognizable name in many parts of the world. Their generic pharmaceuticals are based on their own innovative procedures for synthesizing or isolating active pharmaceutical ingredients and our own innovative pharmaceutical formulations. Today, they erlotinib price in philippines have over 350 patent-protected innovations for which numerous patents have been issued in various European, American, and Asian countries. According to The Balance, about 88 percent of all prescriptions in the U.S. are for generic medications. Majority of them confirmed about readily preferring generic medicines if healthcare professionals recommend the same while about 35% denied accepting generic substitution suggested by a pharmacist.

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Therefore, we make sure that your experience of buying generic medicine online is completely hassle-free. And not to forget the discounts and exclusive offers we bring to you from time to time. Visit our online medical store now and avail online generic medicine purchase at your home.

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He also highlighted the US’s reliance on China for active pharmaceutical ingredients (APIs), which could lead to supply disruptions and price hikes. The inauguration of the above 13 Greenfield plants will be a big step towards achieving self-reliance in manufacturing of wide range of medical devices. With a wide base of scientists, bio-medical engineers, and a growing innovation ecosystem in the country, the India MedTech sector is poised to grow rapidly. Indigenous development of cancer care equipment, such as Linear Accelerator for radiotherapy and evolved coronary stents, under the PLI scheme, are illustrious example of the same. The HITEC city of Hyderabad serves as the corporate headquarters of the pharmaceutical company Aurobindo Pharma. The business began in 1986 with the establishment of a Semi-Synthetic Penicillin Unit at Pondicherry.

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The beginning is with one disease and one leads to another, medicines and dosages increase and so does the cost. Following this, the Union Ministry of Health informed that though a generic prescription is a must, brand names can be mentioned in parentheses. But, this again deviated from prescribing generic names with an intent to exclude branded names from prescriptions. A few years ago, while inaugurating a private hospital in Rajasthan, Prime Minister Narendra Modi announced that prescribing medicines in generic names shall be mandatory for all medical practitioners. As Director, he continues to lead Zota Healthcare with a commitment to innovation and excellence, driving the company toward sustained success.

Active Pharmaceutical Ingredients

Chandrachur Datta, Partner at Vector Consulting Group, said the tariff hike could be both a challenge and an opportunity for Indian pharmaceutical companies. “The increase in tariffs on Chinese products could make Indian alternatives more competitive in the US,” he said. However, he stressed that success would depend on Indian manufacturers ensuring product quality, building resilient supply chains, and adhering to US regulatory standards. “Investing in capacity building, transparency, and flexible supply chains will be crucial,” Datta said. The PLI scheme encourages manufacturers to invest in R&D activities to develop innovative products and technologies. The scheme has enabled technology transfer in high-end medical devices enhancing our capabilities.

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• But, this again deviated from prescribing generic names with an intent to exclude branded names from prescriptions.
• Deshpande said that the only difference in pricing is because of the long supply chain and marketing gimmick used by MNCs which result in high prices of branded medicines.
• The stage has been set to support this expansion plan with various initiative integrating technology with minimal human intervention.
• Many countries across the globe are keen to use more generic drugs in the long run to cut down the cost of healthcare.

Prime Minister Shri Narendra Modi stated that India’s pharma industry is an “asset for the entire world” (July 2020). He further highlighted that “vaccines made in India are responsible for two-thirds of the vaccine needs of the world’s children”. He has acknowledged the importance of research and innovation as critical components for New India. In his speech from the ramparts of Red Fort on India’s 76th Independence Day, he said- “Now, there is another necessity to add, Jai Anusandhan (research and innovation).

As you may be aware, the European Union’s General Data Protection Regulation (“GDPR”) goes into effect on May 25, 2018. As MarketSmith India processes your personal data as a data controller, we feel it is important to explain how your information will be processed, how it will be shared, how it will be protected, and your rights under the GDPR. Please review these documents carefully before you start or continue to use our Services. We wholeheartedly appreciate the enthusiasm and ability of Akums Drugs and Pharmaceuticals ltd by supporting Lupin through the timely delivery of products that significantly and positively affect our business. The Jan Aushadhi website has more guidelines on how to open a generic medicine shop.

Another issue is with the counterfeit medicines sellers who operate at the retail level and procure the substandard medicines from dubious suppliers. Also, many fraud chemist shops sell the counterfeit drugs illegally using the name of a pharmaceutical company that remains completely unaware of the incident. While fighting this issue is beyond the scope of a pharma company, it is very important that it is stopped immediately since it ruins the reputation of that particular pharma company. The current market size of the medical devices sector in India is estimated to be US$ 11 billion and its share in the global medical device market is estimated to be 1.5%.

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Centrum’s report highlights that government initiatives like the PLI scheme and Bulk Drug Parks will boost India’s pharma sector, with US$ 353.4 million (Rs. 3,000 crore) allocated to enhance production and competitiveness. Exports of drugs and pharmaceuticals recorded a strong y-o-y growth of 9.7% during April-March FY24. India’s drugs and pharmaceuticals exports stood at US$ 27.82 billion in FY24 (April-March). The biosimilars market in India is estimated to grow at a compounded annual growth rate (CAGR) of 22% to become US$ 12 billion by 2025. “Every registered medical practitioner should prescribe drugs using generic names written legibly and prescribe drugs rationally, avoiding unnecessary medications and irrational fixed-dose combination tablets.”

• The Pharmaceutical industry in India is the third largest in the world in terms of volume and 14th largest in terms of value.
• “Higher costs could exacerbate inflation, especially in vital sectors like pharmaceuticals, where affordability is critical,” Datta said.
• Our APIs are crafted with precision and purity, supporting the pharmaceutical industry’s need for reliable and consistent ingredients.
• It operates its manufacturing facility in Goa and collaborates with various third-party manufacturers across India.
• India’s drugs and pharmaceuticals exports stood at US$ 27.82 billion in FY24 (April-March).
• Cipla India business chief executive officer and executive vice president Nikhil Chopra said in an emailed statement that the company was launching Cipremi commercially on Wednesday and aims to supply over 80,000 vials within the first month.
• Such requirements might raise the generic drugs prices a bit but is useful in lowering the overall healthcare expenses.

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50% of people prefer to purchase generic over branded medicines while 47.8% believe branded drugs are more effective than generic. On April 2017, the Medical Council of India released a notification which stated it is mandatory for the physicians to prescribe the drugs by using generic names. The infusion of generic substitution is supported by health authorities in several developed countries and why it is important to conduct bioequivalence tests and prescribing drug spending. Such requirements might raise the generic drugs prices a bit but is useful in lowering the overall healthcare expenses. Somehow these practices will also combat with the distrust for the generic medicines amongst people who perceive such drugs as of inferior quality and counterfeit of the branded drug. The foremost thingabout generic pharmaceuticals is that they are developed with same chemicalcompositions as the brand medicines.

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Interested buyers dealing in pharmaceuticalproducts shall send their requirements through email or SMS and avail of thebest business deals here. “When you talk to companies they will tell you that this was an industry that used to be about nothing but price. Now the ability to supply the market and have a reliable supply, to be in good favour with the FDA, that’s starting to mean something to customers,” said Gabelli and Co. analyst Kevin Kendra. Cutting edge insights and innovations in various clinical and non-clinical aspects have driven the worldwide growth.

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Indian pharma companies have a substantial share in the prescription market in the US and EU. Zeelab Pharmacy specializes in providing you with affordable medicines online at the comfort of your home. This saves you all the hassles of stepping-out of your home, visiting a pharmacy and waiting in the queue to buy the prescribed medicine. We at Zeelab Pharmacy understand that sometimes you need medicines on an urgent-basis and that is the reason why we ensure that you receive your medication at the earliest possible. Akums proudly unveils its 20th Anniversary Campaign, ‘BHAROSA – Two Decades of Trust, Going Strong’, celebrating a legacy of reliability, sustainability, and innovation in pharmaceutical manufacturing. If you know of any generic medicine shop that is not listed on the above link, you can share with us their name and address by leaving a comment at the end of this article.

However, before buying top pharma shares, it is essential to conduct thorough research and consider your investment goals and risk tolerance to make informed investment decisions. Regulatory changes, particularly in pricing and exports, have the potential to impact company revenues significantly. The US market, pivotal for many pharmaceutical firms, faces regulatory pressures and FDA inspections that could adversely affect stock performance. Additionally, currency fluctuations pose a risk, given the industry’s reliance on exports.

Moreover, the proposed US Biosecure Act is an important factor for the Indian pharmaceutical industry. The Act aims to reduce US biopharmaceutical companies’ reliance on Chinese manufacturing by January 1, 2032, providing a seven-year timeline for implementation. Dr. Mansukh Mandaviya, Union Minister for Chemicals & Fertilizers and Health & Family Welfare virtually inaugurated 27 greenfield bulk drug park projects and 13 greenfield manufacturing plants for medical devices, here today. Jan Aushadhi Sugam application helps citizens search for nearby Jan Aushadhi Kendra. Citizens can search for generic medicines and provide feedback and suggestions, as well as report bugs encountered while using the application.

Genericpharmaceuticals are approved only after a rigorous review by regulators andafter a set period of time that the brand product has been on the marketexclusively. This is because new drugs, like other new products, are usuallyprotected by patents that prohibit others from making and selling copies of thesame drug. Generic drugs tend to costless than their brand-name counterparts because generic drug applicants do nothave to repeat animal and clinical (human) studies that were required of thebrand-name medicines to demonstrate safety and effectiveness.

For seller-fulfilled items from Fine Art category, the sellers need to be informed of the damage / defect within 10 days of delivery. This item is eligible for free replacement, within 10 days of delivery, in an unlikely event of damaged, defective or different/wrong item delivered to you. ZOTA will store the information provided by the visitors to meet the legal requirement or for the business/ market study purpose only and shall store the information until to mitigate the purpose aforementioned.

Similarly, Generic Aadhaar is aiming to bring a new ecosystem to the old-decade pharma world. One-third of medicines are exported from India to the rest of the world and still, the people here in the country cannot get the benefits. Considering the equation, Generic Aadhaar has come forward to curb the illicit trade in life-saving drugs and provide low-cost drugs to the people. Dawaa Dost claims to enable per cent savings on every Indian’s medicine bills by providing high-quality medicines from the most respected pharma companies at the right price.

Its product range includes a wide array of multi-speciality drugs, vitamins and treatments for conditions such as vertigo, epilepsy, hypothyroidism, migraine and depression. The company’s major markets are present in Western Europe, Australia, Japan, New Zealand, Canada and China. Tradeindia has been doing great work in B2B segment, its so much easy to reach potential buyers through their portal and App.

Leading generic drug manufacturers are spending heavily on research and development projects to create FDA-approved drugs that are safe, effective, and patentable. They are also focused on developing original products using the re-innovation business model, which involves enhancing existing product properties, swapping out new components, changing their configuration, and employing new technology platforms. Major segments of the Pharmaceutical Industry include generic drugs, bulk drugs, vaccines, Over-The-Counter (OTC) medicines, biosimilars and biologics. There are 500 Active Pharmaceutical Ingredient (API) manufacturers contributing about 8% in the global API Industry.

In fact, Regulation 1.5 of the Medical Council Regulations 2002 says that every physician should, as far as possible, prescribe generic medicines. Top 10 Generic Pharma Companies in India – Generic drug companies have become an intimidating segment of the pharmaceutical drug market. A report by Global Data says that Indian generic manufacturers are doing particularly well in the generics marketplace, and more and more companies are moving their manufacturing facilities overseas to cut costs. Generic medicines are usually identical as a proprietary drug that has a brand name because of which the chemical composition of the medicine is sold as. Without any difference, the generic drug is the same in potency, dose, and method of intake, quality, and implications and works the same as the branded medicine. As per Indian household, the term ‘generic’ implies the drug is a cheaper, less effective and duplicate version of the brand name product.

Worldwide, Krka posted just 1% growth in generics sales, bringing in $1.3 billion last year. Western sanctions against Russia and a weak oil market were partly to blame for the region’s economic instability during the period. Ltd. is a leading generic pharmaceutical company and was established in the early 1970s. The company offers distinctive generic drug which is the best in quality and safe to utilize.

He has been featured in innumerable National and International news, media, TV Interview, and magazines consistently. He has been extensively covered by a huge repertoire of publications ranging from “Times Now and Brand Vision honoured amongst 100 Top Global Leaders by Asia One” in Dubai to “CEO Insights magazine as Top 10 CEOs in Healthcare”. The quality, safety and efficacy of medicines are ensured by getting each batch of medicines tested from NABL approved laboratories and confirming to the required standards before the same are supplied via the supply chain to the various outlets. A Dr’s prescription is required to get a generic medicine, the OTC medicines can be bought directly from the counter.

Akums has consistently made extra efforts to assist Lupin by timely completing the targets. Thanks to entire Akums team for their efforts and regular engagement for making this happen.We appreciate the timely supplies provided to achieve the target and expect sustainable performance for coming months. However, seeing your doctor before filling out your medication list helps ensure you receive the correct medication.

We have analyzed and compared the historical data, activities, revenue forecasts, and growth rates of our listed generic companies. The company is also involved in the developmental capabilities covering fusion proteins, monoclonal antibodies, antibody-drug conjugates, and vaccines. It has a robust pipeline comprising of next-generation biosimilars and novel biologicals. Cipla India business chief executive officer and executive vice president Nikhil Chopra said in an emailed statement that the company was launching Cipremi commercially on Wednesday and aims to supply over 80,000 vials within the first month. The expanded list of companies includes Dr. Reddy’s Laboratories Inc., Emcure Pharmaceuticals Ltd, Glenmark Pharmaceuticals Inc., Sun Pharmaceutical Industries Inc., and Zydus Pharmaceuticals (USA) Inc. For seller-fulfilled items from Sports collectibles and Entertainment collectibles categories, the sellers need to be informed of the damage / defect within 10 days of delivery.

To know the generic name of the medicine you are looking for, you can also use a free web service such as This website has a database of over 1 lakh medicines. Before investing, investors must conduct independent research and not solely rely on the information provided here. This will allow investors to make appropriate investment decisions based on their financial goals, investment objectives and risk tolerance.

Such deals involving Indian generic makers, too, are common in the US, where even an iconic Cipla has been named in these anti-trust cases lawsuits. Innovator companies have been charged with paying hefty sums or offering such licensing deals to keep potential competitors from launching low-cost generic versions of the drugs as they squeeze monopolistic profits from their patented drug. The case is of interest here because Genentech filed lawsuits against Sandoz and 17 other companies in early 2019, most of these generic manufacturers from India, starting with Cipla. The large number of suits filed by Genentech is an indication of how determined the company was to block low-cost versions of Esbriet from coming into the market and eroding its profits.