In this article we take a look at the 21 largest generic drug companies . Click to skip ahead and jump to the 10 largest generic drug companies.
Looking for the largest generic drug companies? Drugs, medicines, and healthcare have been more in the news in 2020 than we would have imagined in the beginning of the year. The Covid-19 crisis has put the pharmaceuticals industry forefront like never before and I’m sure you have heard “hydroxychloroquine” more times this year than you intended to! We’ve probably depended on generic drugs all through our lives. Remember popping Tylenol, when that headache you had got a tad bit too nagging? Well, that is acetaminophen! Generic drugs are identified by their chemical formula, and not a brand name. So basically, generic drugs would serve the exact same purpose, just without the brand name, and often at a much cheaper price.
Are you worried that generic drugs might be less effective than their brand name counterparts because of the huge cost difference? Well, not really! Generic drug prices are regulated by the FDA (U.S. Food and Drug Administration) and ensured that they are as safe and effective as brand name drugs of the same composition and dosage. Under the FDA Generic Drugs Program, generic drugs are monitored to make sure that these requirements are continuously met and no breaches occur. Over 3500 inspections are undertaken in manufacturing units in a year so that one can take their generic medications without having to worry!
The generic medicines market might not be as lucrative in the pharmaceuticals space, but it is still a huge market with opportunities. The total value of generics in the total pharma sales might add up to a modest 9%-11%, however, by volumes they represent the majority. It is the price difference that brings down the profitability to a certain extent. Generics can be anywhere between 10% to a whopping 80% cheaper than their branded counterparts.
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The market has seen a growth in the recent times due to the constant escalating prices in the healthcare segment. Healthcare is one of the essential industries and the growing demands have put an upward pressure on prices. Generics in this case has increasingly become the preferred choice for several consumers who understand that branded products are actually at par with generics, but we only end up paying more for the brand names.
We are living in times where diseases have been more on the rise than ever before. Covid-19 is the biggest example for infectious diseases that are more prevalent in the current times than what human kind has had to face before. The frequency of infectious diseases have not only increased but is likely to persist as climate conditions deteriorate and there is increasing interference of humans into the ecologies and habitats of wildlife. But, even apart from infectious diseases, it is not hard to see that other conditions are also on the increasing trends – this includes chronic diseases, diabetes & cardiovascular diseases. This is obviously attributable to our sedentary modern lifestyles and unhealthy eating habits. All of these health issues and diseases have given the generic drug market the push. Also, with pressures on healthcare rising and expenditure increasing, generics have turned out to have a favorable market as demands for them rise. The only deterrent for the market has been the stringent government regulations and the wide belief of adverse effects of drugs. Despite this, the generics market is expected to grow here due to new drugs coming into focus, more clinical trials taking place and mass licensing and pooling of resources for new products by vendors.
The generic drug market can further be broken down into several segments. These can be based on product types, applications, distribution channels, and also different regions. By product type the market can be categorized into simple generics, super generics, and biosimilars. While The US Food and Drug Administration (FDA) does not recognize the term ‘super generics’, they are the type of generic products which can be considered as value added generics generics or hybrids. They mainly are different from the original patented drugs in the formulation or method of delivery. They can be seen as the “improved” form of the already known drug. A biosimilar, on the other hand, is a biologic medicine derived from living organisms. Biosimilars are manufactured through sophisticatedly controlled biotechnology processes which are large, complex molecules or mixtures of molecules composed of living material. They are required to be identical to “reference products” and this criteria is highly monitored by the FDA.
Applications include cardiovascular products, anti-infective drugs, anti-cancer drugs, respiratory products, and so on. When considering distribution channels, the market can be segmented according to who the ultimate consumer is, if they are distributed through hospitals for in house use, or sold to ultimate consumers through pharmacies. Private clinics, drug stores, retailers etc. can be other forms of distribution channels used.
The largest generic drug companies are the market leaders commanding over 61% of the total revenue made by the 50 top players in the industry. It is apparent how the market is top-heavy and controlled by the top few. Regionally, North America has the most number of top players while other players are quite distributed. This shows how generics are growing globally, and not concentrated on regional basis, and are being adopted fervently as a lucrative product segment within the pharmaceutical space. Many of the biggest pharmaceutical companies in the world are eager to enter the generics segment either through specialized divisions focusing on generics or through mergers and acquisitions. The competition as such in the market is fierce and the dynamics are in ever-changing mode. The recent merger of Mylan, a generic giant, with pharma giant Pfizer (NYSE:PFE) is a classic example of the same. While the merger has provided Pfizer a strong entry into generic space, the companies now plan to consolidate their generic segment under a Joint venture Viatris, which shall considerably change the market scenario yet again. We have based our findings on the revenue values of the biggest players, and have also reported key performance results for your reference.
So who are currently the largest generic drug companies in the world? Let’s find out!
21. Zentiva
Revenue – $111million
Number Of Employees – 2,071
Market Cap –N/A
TTM $-N/A
We start off our list with Czech Republic based company involved in producing and marketing a range of generic and OTC products. The company that used to be a part of Sanofi, recently separated from it to become an independent generics market player.
The Indian pharmaceutical unit, under the Torrent Group, is a generic focused company headquartered in the Indian city of Ahmedabad. The company is well-known in the Indian market for its successful implementation of niche marketing.
David Smart/Shutterstock.com
19. Glenmark
Revenue – $1,409.49 million
Number Of Employees – 14,000
Market Cap –2.049B
TTM $-1,432.54 million
Yet another Indian player in the generics market, Glenmark, is based in the city of Mumbai. The company has just revealed that it has received tentative approval from the USFDA for Axitinib tablets, used in treatment of cancer.
Amneal is the first publicly traded American company on our list of largest generic drug companies. The company produces generic medicines including, specialty products and biosimilars. The specialty segment brings proprietary medicines to the U.S. market with a portfolio ranging in core therapeutic categories including central nervous system disorders, endocrinology, parasitic infections and other therapeutic areas.
wavebreakmedia/Shutterstock.com
17. Sawai
Revenue – $1,753.43million
Number Of Employees – 3,066
Market Cap –2.057B
TTM $-1,750.47 million
Japanese generic medicines focused pharmaceutical company, Sawai, manufactures antibiotics, anticancer agents, and circulatory agents. The company recently became the first in Japan to launch the generic version of Pfizer’s Lyrica pregabalin brand.
Dragon Images/Shutterstock.com
16. Piramal Pharma Solutions
Revenue – $1,771.59million
Number Of Employees – 6,579
Market Cap –4.4832B
TTM $-1,742.02 million
Piramal Pharma Solutions is the pharmaceuticals division of Indian Conglomerate Piramal Group. The company’s Generic API division has a wide range of ready to offer APIs across CNS, CVS, Anti-infective, Anti-diabetic divisions along with 10 molecules in the development pipeline for niche segments including hormonal and corticosteroids.
wavebreakmedia/Shutterstock.com
15. Lupin
Revenue – $2,055.42million
Number Of Employees – 18,302
Market Cap –5.84B
TTM $-2,003.18 million
Another one of the Indian players in the generic segment, Lupin, operated in the pediatrics, cardiovascular, anti-infectives, diabetology, asthma and anti-tuberculosis sections.
14. Hikma
Revenue – $2,207.00million
Number Of Employees – 8,600
Market Cap –7.7B
TTM $-2,138million
The UK multinational pharmaceutical company based in London manufactures non-branded generic and in-licensed pharmaceutical products. The company along with Sesen Bio (NASDAQ: SESN) is a pioneer in cancer treatment has through an exclusive licensing agreement partnered for the commercialization of Vicineum for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (“NMIBC”) in the Middle East and North Africa (“MENA”) region.
13. Cipla
Revenue – $2,281.02million
Number Of Employees – 25,845
Market Cap –8.32743B
TTM $-2,416.53 million
Indian MNC based in Mumbai, Cipla mainly delves in generics to treat respiratory, cardiovascular disease, arthritis, diabetes, weight control and depression among other diseases.
wavebreakmedia/Shutterstock.com
12. Dr. Reddy’s
Revenue – $2m366.96million
Number Of Employees – 21,650
Market Cap –11.37B
TTM $- 2,444.77 million
India’s Dr.Reddy’s generics segment includes medicines for major therapeutic areas of gastrointestinal ailments, cardiovascular disease, pain management, oncology, anti-infective, pediatrics and dermatology.
bikeriderlondon/Shutterstock.com
11. Aspen Pharmacare
Revenue – $2,563.11million
Number Of Employees – 9,069
Market Cap –58.293B
TTM $- 2,613.78 million
Aspen Pharmacare is the largest drug company in Africa. The company experienced increased demand for certain APIs used in the treatment of COVID-19 patients which was a major growth driver this year.
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