The global generic drugs market continues to grow. With increasing demand for more accessible medication, pharmaceutical companies are harnessing the benefits offered by generic drugs. Here are the top five generic drugs makers by revenue.
The demand for generic drugs is increasing worldwide and pharmaceutical companies are realising the great potential this opportunity affords. Efficient and inexpensive drugs are always needed, making this a growing market for drug makers. The global market for generic drugs is projected to rise at a compound annual growth rate (CAGR) of 8.7 percent; meaning that, in the forecast period 2016 to 2021, the global market will increase from $352 billion to $533 billion.1
In this article, the top five generic drug makers are listed by total revenue, measured in the financial year (FY) 2018. Counting down, they are as follows:
5. Lupin Pharmaceuticals – $2.3 billion2
This pharmaceutical company is based in Mumbai, India. Lupin Pharmaceuticals is a subsidiary of Lupin Limited and one of the top five pharmaceutical companies in the country, making it a key player in the industry. The company was founded in 1968 and while its main focus is generic drugs, it also manufactures branded medications and active pharmaceutical ingredients (API).3 The company’s research programme covers the entire pharma product chain and their R&D department contains 1,400 employees. The drugs produced by Lupin reportedly reach 70 countries, yet their ambitions are greater; Lupin is looking to expand into the US market as, according to the company, they are well positioned to grow.4
Vinita Gupta, CEO of Lupin Pharmaceuticals, Inc. says: "founded on the strengths of our parent company Lupin Limited, Lupin Pharmaceuticals, Inc. intends to bring a portfolio of generics as well as branded products to the US market."
4. Sun Pharmaceuticals – $4 billion5
Sun Pharmaceuticals, also headquartered in Mumbai, has over 2,000 marketed products and over 30,000 employees worldwide.6 According to Sun Pharmaceuticals, they have built a portfolio of about 10 speciality products, five of which are already on the market. They expect that this side of their business will be a key driver in the coming financial year.5 In addition to being a leading generic drug maker, the company also provides a range of APIs. They invest heavily in R&D, using around 7-8 percent of their annual revenues to improve this side of their business. Sun Pharma’s R&D productivity is ranked one of the highest for Indian generic companies.7 Established in 1983, Sun Pharma sold products across India before expanding internationally in 1996.8
Dilip Shanghvi, Managing Director of Sun Pharmaceuticals, said: "The US generics market has been an important driver of growth and profitability for Indian pharmaceutical companies between 2005-15. However, now with the changed dynamics, the importance of other markets has increased. It has also become imperative for companies to identify new engines of growth and invest more in innovation. It is in this context that Sun Pharma has been investing in building its global speciality business since the last few years. Through this initiative we are trying to gradually move up in the pharmaceutical value chain."
3. Sandoz – $9.9 billion9
Sandoz is a generic and biosimilar producer division of the Novartis Group. With their products reaching an estimated 520 million patients worldwide, the company aims to reduce costs of medications as widely as possible. Headquartered in Munich, Germany,10 the company merged with Ciba-Geigy in 1996 to form Novartis. They are the leading provider of biosimilars and generic antibiotics.11 In January 2019, the company announced that it had been certified as a ‘Top Global Employer’.12 According to the company, a planned transformation for Sandoz through Novartis is expected to enable them to compete effectively in a more challenging environment by increasing their share of higher-margin differentiated products.9
Sandoz are the leading provider of biosimilars and generic antibiotics
Vas Narasimhan, CEO of Novartis during FY 2018, said: "In 2018… We took major steps towards becoming a medicines company that focuses its capital on developing, launching and...
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