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As a former editor for diabetes publications, I knew that insurance companies regularly switched people from one brand of insulin to another, or from a name brand of insulin to a generic. I’ve heard stories from people with diabetes who said the switch completely upended their blood sugar management.
At the initiative of Prime Minister Narendra Modi, March 7 is celebrated every year as Jan Aushadhi Diwas to enhance awareness about the scheme and promote genericmedicines. Under this scheme, dedicated outlets known as Jan Aushadhi Kendras (JAKs) are opened to provide genericmedicines.
Main drivers for the market were reported to be rising popularity of generics together with blockbuster and other small-molecule drugs going off-patent globally. Overall, increasing demand for genericmedicines will be a significant factor for growth.
The small molecule API market is influenced by several factors, including heightened R&D within the pharmaceutical sector, a growing prevalence of chronic illnesses and rising demand for genericmedicines.
According to the World Health Organisation (WHO), an estimated two billion people across the world do not have access to essential medicines for life threatening diseases like cancer, AIDS and even autoimmune diseases like Type 1 diabetes.
With additional firepower, the pharma companies are looking to acquire innovative technologies specifically in precision medicine, cell and gene therapy, cancer and rare diseases, diabetes, auto-immune diseases, and weight loss which will hurl additional M&A activity.
With additional firepower, the pharma companies are looking to acquire innovative technologies specifically in precision medicine, cell and gene therapy, cancer and rare diseases, diabetes, auto-immune diseases, and weight loss which will hurl additional M&A activity.
The company offers genericmedicines and biosimilars through Sandoz. It provides drugs for the treatment of cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, immune disorders, and infections, among others.
India is known as the ‘Pharmacy of the World’, as the genericmedicine supplier for over 200 countries, both developed and emerging markets. A large presence of local players producing branded generics, along with lower price levels, has provided India with a unique opportunity. How poised are you to leverage them?
Dr Venkateswaran points to the innovative use of GLP-1 agonists, initially anti-diabetic drugs, now repurposed as anti-obesity treatments. As the world’s largest manufacturer of genericmedicines, India has vast potential to utilise repurposed drugs.
Since manufacturers know the precise quality specifications, standards help make the approval process for genericmedicines more efficient. A study conducted by researchers from Johns Hopkins University found that drugs with a USP monograph had 50% more manufacturers than drugs without a USP monograph.
Complex generics: The need and challenges Genericmedicines have benefited millions of Americans and saved trillions of dollars. Accounting for approximately 90% of prescriptions filled in the United States , genericmedicines are essential to increasing patient access to important drug therapies.
In its first meeting of 2023, the European Medicines Agency (EMA)’s Committee for Medicinal Products for Human Use (CHMP) recommended four new medicines for approval, providing positive opinions for two type 2 diabetes drugs.
This move unburdened the private pharma companies allowing them to concentrate and strengthen their base, and they succeeded in gaining a national as well as international market presence as “global genericmedicine manufacturers.” Annually, about 2,827 brands with a total value of Rs. 3,810 crores were introduced.
Governments and healthcare systems in these regions are looking for cost-effective solutions to address the growing burden of non-communicable diseases, such as diabetes, cardiovascular disease, and cancer. Generic drugs offer a viable solution, providing high-quality treatments at a fraction of the cost of branded medicines.
In recent years, first generics have improved patient access to essential treatments and offered affordable treatment options for patients with multiple sclerosis, asthma, heart disease, diabetes, and even the flu.
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