Role of Generic Pharmaceutical Industry in Healthcare

Abstract

Abstract Generic pharmaceutical industry plays critical role in producing a??ordabOe medicines. More importantly, this industry sector helps in management of the health of majority of people living under the poverty across the world. Innovator companies invest heavily in bringing the medicines to the market. It becomes their fundamental right to get the return on investment. Obviously, medicines will extremely be costly at the ?rst place. ?ere will be close to 20 years of window for innovators to sell their products in the market. ?erea?er medicines are bound to get genericised and there is a surge of competition among generic players including innovator companies to sustain in the market due to tremendous cost pressure. Regulatory bodies across the world also encourage to the accessibility of quality driven generic medicines for the masses. Many players from all over the world try to put their products in the market but only few of them emerge as the leaders mainly due to quality of the medicines that they produce from all the aspects. In order to provide quality medicines to the patients at par with the innovator’s product, generic pharmaceutical industry has to play very critical role. ?e challenges pan out from design of cost e??ectLYe synthetic route with least PMI (Process Mass Intensity) and high atom e?cLenc to the innovative packaging.