Indian Generic

Today the Indian Pharmaceutical sector has become a prominent provider of healthcare products. It meets 95% of the country’s medical needs. The total Indian production constitutes about 1.3% of the world market in value terms and 8% in volume terms.

The Indian pharmaceutical industry is mounting up the value chain. From being a pure reverse engineering industry focused on the domestic market, the industry is becoming research driven, export oriented and globally becoming competitive.

The industry is dependent on its therapeutic presence and new categories, viz. cardiovascular, central nervous system and anti diabetic are expanding at double digit growth rates.

The Indian companies are pooling their resources so as to tap the generic drug markets of the developed countries.

Outsourcing in the fields of R&D and manufacturing will be the next best opportunity for the industry. India has the best chemistry skills and low cost advantages in research and manufacturing and skilled manpower, which will attract MNCs to set up shops here.

The generic drug industry is poised to enter a dramatic growth phase fueled by stronger generic drug companies that have broad technological and diversified market capabilities. As more and more patents expire, the generic portion of the pharmaceutical market is expected to continue to have increased sales.

USA Goverment Regulations on the manufacture of generic drugs:

In 1997, up to 80 per cent of generic drugs approved by the FDA (Food and Drug Administration) were manufactured by companies that also make brand-name drugs. The US Government strictly regulates the manufacturing process of all drugs, and all manufacturers meet the same standards. The FDA inspects drug manufacturers and recalls any marketed products that do not meet production standards. Each generic drug is laboratory tested to ensure that the same amount of drug will be absorbed into the bloodstream as with the brandname drug. From 1984, no generic drug has been approved in the US, unless it has been shown to have the same amount of active drug absorbed at the same rate as the brand-name drug.

It may be noted that the American Medical Association, the largest organization of medical doctors in the USA, have stated that generic drug procucts are acceptable for use by the American public. Most hospitals in America routinely use generic drugs for treatment of their patients.

While brand name drugs certainly play an important role in medicine, generic drugs are a cost effective alternative. Pharmaceutical costs are increasing faster than any other portion of the health care expense. Not only are generic drugs costeffective, but they are safe. Generic drugs are bioequivalent to their brand name twins. As generics tend to be older, they are generally less risky than new drug therapies. Generic drugs offer sound treatment options for patients.

Prepared by Generic Pharmacy. Updated date: May 09, 2010