US approve the sale of low cost medicines by Glenmark Pharmaceuticals this financial year by winning the bids against Sun Pharma, Ranbaxy Laboratories and Dr Reddy. The approvals will support revenue growth in the coming quarters.The Glenmark was allowed to sell as 21 new generic medicines or low cost versions of off patent drugs in the US market. We can now expect Glenmark to top the chart this fiscal year. Although larger Indian drugmakers, Glenmark and Aurobindo target medicines having annual market size of $50-300 million, but do get decent revenues as there is limited competition in low cost medicines. Glenmark also saves money which is required to challenge patents as their strategy. Last year Ranbaxy just got 4 approvals as this year but will not stagnate their market in US. Ranbaxy will now generate revenue by selling the generic version of best selling drug Lipitor worth over $12 billion later this year. This would alone generate hundreds of million dollars to the company in 180 days only. These big drugmakers such as Ranbaxy, Dr Reddy’s, Sun Pharma and Lupin in the US holds the key for their overall growth as revenues
Like
Dislike
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.
