Explaining his company’s outlook in the generics space, Ramesh Adige, President, Ranbaxy tells TSI, “Ranbaxy is today well positioned in the global generics space and is amongst the top 10 generic companies globally offering products in over 125 countries. With over $80 billion of drugs going off-patent by 2012 and a higher generic penetration across developed and emerging markets, the generics market will continue to provide attractive growth opportunities in future.” Even Uday Baldota, VP – Investor Relations, Sun Pharma tells TSI, “In our view, generic drugs is a significant, growing and profitable opportunity, worldwide. We are working towards getting a meaningful presence in the worldwide generic industry over the longer term.” While Dr Reddy’s stands to gain the most, there are others like Ranbaxy and Sun Pharma which are amongst the top gainers. Even Cipla has filed for permission to market generic/low-cost editions of drugs that make over $45 billion annually! While 10 Indian firms have seeked permission to sell generic versions of the highest-selling Lipitor, in US alone, it is Merck’s Cozaar (anti-diabetic drug) and Astra Zeneca’s Arimidex (anti-cancer), which have received the maximum number of applications.
So how can Indian pharmacos leverage the opportunity? There are over 100 USFDA approved drug-manufacturing units in India that represent the swarm willing to strip all opportunities to the bone. Indian drugmakers have captured $23.6 billion of the $110 billion value of drugs that went off-patent since 2005, and if history is some proof, then of the $160 billion worth drugs that will lost patent rights by 2016, Indian drug manufacturers would at least be looking at a windfall of $34.32 billion over the next six years, making it the world’s third largest by value, at $63.42 billion and the highest by volumes by 2016 after the US and Japan. Says Adige of Ranbaxy, “The Indian pharmaceutical market will continue to observe double digit growth in the coming years. With increasing incidence of lifestyle diseases, rising disposable incomes, a growing middle class, greater penetration of health insurance and expanding medical infrastructure, India’s consumption of pharmaceutical products will go up.”
So how can Indian pharmacos leverage the opportunity? There are over 100 USFDA approved drug-manufacturing units in India that represent the swarm willing to strip all opportunities to the bone. Indian drugmakers have captured $23.6 billion of the $110 billion value of drugs that went off-patent since 2005, and if history is some proof, then of the $160 billion worth drugs that will lost patent rights by 2016, Indian drug manufacturers would at least be looking at a windfall of $34.32 billion over the next six years, making it the world’s third largest by value, at $63.42 billion and the highest by volumes by 2016 after the US and Japan. Says Adige of Ranbaxy, “The Indian pharmaceutical market will continue to observe double digit growth in the coming years. With increasing incidence of lifestyle diseases, rising disposable incomes, a growing middle class, greater penetration of health insurance and expanding medical infrastructure, India’s consumption of pharmaceutical products will go up.”
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