New Developments with Operational Updates in Generic Drugs Market
Generic drugs market growth is buoyed by increasing number of patented expiries for drugs each year. According to the IMS data small-molecule products worth US$ 121 Bn are expected to lose patents in developed markets, such as U.S and Europe between 2014 and 2018. The IMS also forecasts that biologic products valued at US$ 48 Bn are expected to lose patent protection over the next three years i.e from 2017 and 2020, which is expected to drive growth of the generic drugs market. Global generics market is highly competitive with many Asia Pacific companies entering the developed markets such as the U.S., Germany, France, and UK. Recent past has witnessed spurt in mergers and acquisitions between generic drug manufacturers, with major players focusing on enhancing their product portfolio through such inorganic strategies. For instance, Teva Pharmaceutical Industries Pvt. Ltd., Pfizer, Inc., Mylan, Sun Pharmaceutical, and Fresenius Kabi entered into acquisitions to increase their rev