Indian pharma firms grow in US market
Indian pharmaceutical companies have increased their penetration in the US generic market. Subsidiaries of Lupin Pharmaceuticals, Zydus Cadila, Glenmark, Aurobindo, Torrent Pharma have increased their ranking in US generic market, according to the data of IMS Health, a global market research agency.business Updated: Aug 11, 2010 23:30 IST
Indian pharmaceutical companies have increased their penetration in the US generic market. Subsidiaries of Lupin Pharmaceuticals, Zydus Cadila, Glenmark, Aurobindo, Torrent Pharma have increased their ranking in US generic market, according to the data of IMS Health, a global market research agency.
Lupin, which was on eighth position on May 2009, jumped to fifth position at the end of April this year. Zydus Cadila was the biggest gainer in terms of improving ranking which secured 12th in April rank from 17th in April 2009. Aurobindo Pharma improved its rank from 14th to 13th and Glenmark Pharma improved its position from 22 to 18 during the same period by increasing number of prescriptions. Torrent Pharma during the same period managed to figure out in the top 30 by securing 26th place in the US generic market, which is currently pegged around $35 billion and is the largest generics market in the world.
Experts attribute the growth of Indian companies for selection of the products and quick in filing the Abbreviated New Drug Application (ANDA).
"Indian companies are careful in identifying the product and are first in filing the ANDA, which give them exclusivity of 180 days for selling the generic version of a patented drug," says Sujay Shetty, India pharma leader, Pricewaterhouse-
Coopers. An ANDA is an application for a US generic drug approval for an existing licensed medication or approved drug.
"We will continue to enrich our pipeline with products where competition is limited and there is scope for better operating margins," says Terrance Coughlin, chief executive officer, Glenmark Generics.
"They have also been able to meet the regulatory and safety norms by supplying best quality products for the American market, which is toughest market in the world in terms of quality checks," says an analyst.