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A generic injectable is a drug that has the same active pharmaceutical ingredient as its branded counterpart. A generic injectable is also equivalent to its branded counterpart in safety, strength, dosage form, performance, quality, and route of administration. Unlike branded injectable drugs, generic injectable has lower costs especially the ones used for cancer therapies. This is the reason why governments in many countries are focused on adopting generic injectable to help control healthcare spending. In addition, generic injectable has a high margin and low R&D investments.
COVID-19 Impact Analysis
Major drug corporations across the world have keen interest to invest in generic injectable manufacturing facilities with the objective of cutting down corporate expense rates, improving manufacturing units, and building their presence in developing economies such as China and India.
In North America, the new duty changes in the U.S. have led to lower corporate taxes and aided pharmaceutical organizations to bolster their production capacities of generic injectable.
For instance, in 2020, an arrangement to contribute $465 million was reported by Pfizer, Inc. to fabricate an injectable plant in Michigan. This development is a part of Pfizer's plan to invest $5 billion in the U.S.-based capital tasks.
In the Asia-Pacific region, China is the leading producer of many pharmaceutical products, including generic injectable. China is experiencing dramatic increase in wages, making the manufacturing processes of pharmaceuticals quite expensive. Despite this, the Asia-Pacific region still remains to be one of the most affordable regions for pharmaceutical manufacturing.
In Europe, Germany has relatively strict regulatory guidelines for drug production and development. As a result, it is difficult to achieve approvals aimed at developing and producing new generic injectable.Â
Key Benefits of the Report
Questions Answered in the Generic Injectable Report
Generic Injectable Market Report Highlights
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By Indication |
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By Distribution Channel |
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Key Market Players | Novartis AG (Sandoz), Baxter International, Johnson & Johnson, Pfizer, Inc., Bristol-Myers Squibb Company, AstraZeneca plc., GlaxoSmithKline Plc., Sanofi SA, Amgen Inc., Novo Nordisk A/S, Fresenius SE & Co. KGaA |
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