01 October 2002
Urch launches comprehensive report on generic drugs in Europe
Market forecast to grow to us$21 billion within five years
Today, Urch Publishing launches a comprehensive report on the generic drugs sector of Europe which forecasts that the market for these pharmaceuticals will grow to more than US$21 billion by 2007. The generic drug market today accounts for nearly 50% of all prescriptions, a figure that Urch expects to increase to more than 75% by 2005.
Countries such as Germany and the UK will continue to dominate the European generics sector, but Southern countries such as Spain and Italy which have had low value and volume generic markets are predicted to increase rapidly. The Dutch and Scandinavian markets are also expected to show sustained growth in line with expansion of total markets and positive disposition towards generics.
European Generic Drug Markets - growth to 2007, identifies the drivers of this growth as patent expiries of top-selling drugs, cost-cutting initiatives of national healthcare systems, faster registration procedures, less restrictive regulatory processes, increased promotion of generics by doctors and pharmacists, and better awareness of generics by the consumer.
Industry analyst and report author Tim Atkinson, believes that patent expiry remains one of the primary factors in the creation of a strong European generic market. "Patent expiry is probably the single most important driver of the generics sector, and as at least 12 leading drugs are scheduled to come off-patent by 2005, generics companies are well positioned to make significant gains from this huge fallout from the branded market. This translates to a market opportunity in excess of US$20bn by 2005," he said.
European Generic Drug Markets - growth to 2007 also analyses the regulatory system which underpins the use of generics. Barriers still remain, mainly with the Mutual Recognition Procedure where issues include the significant and costly delays in approval times, lack of harmonisation of the Summary of Product Characteristics, lack of consultation with Reference Member States and the high number of copies of dossiers.
The report also describes the strategies that research-based companies use to hinder generic competition. These options, to protect their patent exclusivity, have traditionally included litigation, reformulation, new isomeric forms, changing manufacturing processes, or releasing generics under subsidiary names. Equally there are a number of important strategies that generics companies can employ to sustain market growth, including an R&D strategy to capitalise on the most profitable therapeutic category, efficient manufacturing capabilities, high profile marketing campaigns and robust relationships with distributors to ensure timely delivery and distribution of products.
European Generic Drug Markets - growth to 2007 is 120 pages long, contains over 50 figures and tables and mentions over 100 companies. It is priced at £795.
For more information contact Urch on +44 (0) 208 690 8780 or email: service@urchpublishing.com
Urch Publishing, PO Box 27554, London SE4 2GZ, United Kingdom
