Reportstack has announced a new market research publication on Global Generic Drugs Market, which finds patent expirations, as well as mergers and acquisitions as major growth drivers in a market that is seeing a CAGR of 11.02 percent for the forecast period of 2014-2018. Generic drugs are copies of patented brand name drugs that have identical dosage form, potency, route of administration, quality, and intended use as the originals but generally cost 50-70 percent less.
It is expected that branded drugs with sales of up to US$135 billion will go off-patent by 2015, giving generic pharmaceutical companies enormous chances to capitalize on the market. One such drug is the antidepressant Lexapro, which recently came off patent. Both Mylan Pharmaceuticals as well as Teva Pharmaceuticals are releasing generic versions of the drug.
Additionally, mergers and acquisitions are dramatically changing the global healthcare and pharmaceuticals landscape. Generic drug vendors are using mergers as a core growth strategy in order to rapidly expand business. One of the leading vendors in the market, Actavis plc recently acquired Forest Laboratories—the original distributor of Lexapro. This is just the latest in a string of mergers that have positioned Actavis as a top dog in pharmaceuticals. In November 2012, the company acquired Watson Pharmaceuticals and became the third largest generic pharmaceutical company across the globe, with operations in more than 60 countries. In October 2013, Actavis acquired Warner Chilcott plc for approximately US$8.5 billion.
To determine the scenario for these vendors in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To view the table of contents and know more details please visit Looming Patent Expirations Driving Growth in Generic Drugs Market report.