Drugs worth $100 b go off-patent
According to the IMS Institute for Healthcare Informatics’ report, ‘The Global Use of Medicines: Outlook Through 2016’, while branded drugs Nexium, Cymbalta, Celebrex, Symbicort, Lunesta, Restasis, Evista, Sandostatin LAR, and Actonel went off-patent in 2014, the drugs listed to go off-patent in 2015 include Abilify, Copaxone, Namenda, Provigil, Combivent, Zyvox, Prezista, and Avodart, besides Gleevec. Year 2016 will witness the expiry of patents relating to four blockbuster drugs — Crestor, Benicar, Benicar HCT, and Cubicin.
The total sale value of the drugs with expire patent protection in 2014 and expiring in 2015 are approximately $34 billion and $66 billion respectively.
While Indian drug companies have moved beyond making generic drugs and active pharmaceutical ingredients (APIs), and have strengthened their position in contract manufacturing, research and clinical testing, their forte remains generic drugs. India accounts for almost 20 per cent of the world’s generic drugs.
For many people in India and around the world, patented medicines are often beyond their means and generics are their only hope. With a number of drugs going to go off-patent soon, the stage is set for India’s pharmaceutical industry to further consolidate and expand its position in the growing generic market.