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It is noteworthy that generic drug makers spend over 7% of their turnover on development in the fields of bio-similar medicines and difficult-to-make molecules (Source: European Generics hoavb org 9 order phentermine Association). In 2010, Central Europe's generic drug market increased 12%, whereas that of original medicines grew only about 10%. It is expected that in the near future, there will not be any significant increase in the share of innovative medicines, as governments in Market share gain by Indian companies in the US generics market Central Europe (Poland, Romania, Bulgaria, Hungary, Slovakia lyrica interactions with tramadol acetaminophen and the Czech Republic), have been promoting generic consumption, hoavb org 9 order phentermine resulting in limited spending on expensive innovative medicines. Moreover, with an ageing population and member states' healthcare budgets under pressure, generic medicines are now a key element of sustainable healthcare. They save over 30 billion euros for chemical entities and 1.4 billion euros for bio-similar medicines annually. This not only strengthens the European healthcare system, but also increases patient access to generic medicines. Japanese generic market: This market was valued at more than US$ 7.3 billion in 2009.
With low penetration at about 6% in value terms, it is the world's third-largest generic hydrocodone questionaire cod market.
Going forward, strong promotional activities and Japan's ageing population are expected to drive growth.
Further, the bilateral free trade agreement signed in February 2011 (the FTA will abolish 90% of in phentermine pill trade duties for 10 years) will provide a stimulus for exports to Japan.
According to RNCOS, Japan is likely to clock a 8% CAGR to reach US$ 10 billion by 2013.
Global CRAMs opportunity: The global pharmaceutical outsourcing market was estimated at US$ 67 billion in 2010 and is expected to grow at a 14% CAGR (2007-2012) to reach US$ 85 billion by 2012. Key growth drivers Patent expiries • Drugs worth US$ 97 billion expected to go off-patent from 2011-15 in the US compared with US$ 73 billion during the 2006-10 period • New launches not enough to justify the loss of existing blockbuster drugs going off-patent Falling R&D productivity • Sales generated by new approvals hoavb org 9 order phentermine witnessed declining trends over the last few years despite an increase in R&D budgets • Average R&D cost increased to US$ 1.3 billion per NME; rising intolerance to side effects of new drugs reduces research productivity Focus on generics/ branded generics • Increasing role of generics being played out in developed countries by insurance and healthcare providers • Foray hoavb org 9 order phentermine into branded generic segments of emerging markets to boost dwindling global revenues and profitability Cost pressures • Falling R&D productivity coupled with pricing pressure, led to margin contraction • Increase in raw material and wage inflation impacted bottomlines Emerging markets will emerge as a US$160-190bn opportunity 180 160 140 120 100 80 60 40 20 0 2008 2013(f) CAGR Russia 14-17% S. Korea 7-10% India 11-14% Turkey 11-14% Mexico 4-7% Brazil 7-10% China 20-23% Household income level (Rs.) Pharma spending of income as %age Pharma spending per household (Rs.) Deprived * (all-India average) 95,000 0.75 713 Rural 180,000 0.35 630 Aspirers** (all-India average) 240,000 1.05 2,520 * Annual income 100,000 per household at 2011 price level Income level and pharma products expense India's pharmaceutical market Overview •The Indian pharmaceutical industry ranks third by drug volume (10% of global share) and fourteenth by value - about US$ 24.8 billion (3% of global sales). •The industry is growing at around 1.5-1.6 times the country's GDP growth (Source: The Financial Express).
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