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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Olanzapine Market
Request Now !Olanzapine, formerly known as Zyprexa, is a medicine licensed by the U.S. Food and Drug Administration (USFDA) for the treatment of schizophrenia, bipolar disorder, and other neurological disorders.
Olanzapine is a generic medication that is sold under a variety of brand names globally. Olanzapine is sold in different countries, with dosages ranging from 2.5 to 20 mg. Zyprexa (generic olanzapine) is available as an orally disintegrating "wafer" that dissolves rapidly in spit. It is also available in 10 milligrams vials for intramuscular administration. Olanzapine was first licensed for medicinal use in the U.S. in 1996. With over two million prescriptions in 2017, it was the 239th most widely prescribed drug in the U.S. Eli Lilly and Company also sells olanzapine in a fixed-dose combination with fluoxetine under the brand name olanzapine/fluoxetine.
COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with the governments are working to address the COVID-19 outbreak globally, from supporting the development of vaccines to planning for medicine supply chain challenges.
Currently, about 115 vaccine samples and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19.
Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the global olanzapine market.
Top Impacting Factors
Market Trends
New Product Launches to Flourish Olanzapine Market
In June 2021, Alkermes announced that the U.S. Food and Drug Administration (USFDA) has approved LYBALVI (olanzapine and samidorphan) for the treatment of adults with schizophrenia and for the treatment of adults with bipolar I disorder, as a maintenance monotherapy or for the acute treatment of manic or mixed episodes, as monotherapy or an adjunct to lithium or valproate. LYBALVI is a once-daily, oral atypical antipsychotic composed of olanzapine, an established antipsychotic agent, and samidorphan, a new chemical entity.
In December 2020, Novartis teamed up with Cadent Therapeutics on treatment-resistant depression back when the neuro-focused biotech was working under the radar. Swiss Pharma is helping itself to the rest of Cadent’s pipeline in a deal worth $210 million upfront but that could net the latter up to $770 million in total. Under the deal, Novartis will buy out the milestones and royalties for the depression asset, MIJ821, which it is testing in a phase 2 study. It also picks up CAD-9303, a treatment for schizophrenia, and CAD-1883, which is in development for movement disorders.
Key Benefits of Report
Questions Answered in Olanzapine Market Report
Key Market Segments
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Key Market Players
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