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SA’s generic drug market growing steadily

Boosted by a growing disease burden and the push to reduce the cost of medicine, SA’s generic drugs market isexpected to continue growing steadily. According to a [s]Financial Mail[/s] report, the market has been growing at an average of 13% over the past five years, and is projected to grow by 10%-12% over the next five years. The branded drugs market only managed an average of 6% over the same period and isexpected to continue growing slowly. The report quotes [b]Paul Anley, CEO[/b] of generic drugs distributor [b]Pharma Dynamics[/b], as saying that population growth and a steep rise in diseases of lifestyle – such as diabetes, cardiovascular illness and hypertension – are an opportunity for generic drug-makers. And, he says, more opportunities will come from the expiry of a number of blockbuster patents such as esomeprazole for the treatment of gastrointestinal tract conditions like stomach ulcers and heartburn, and celecoxib, a non-steroidal anti-inflammatory for the treatment of pain and inflammation. However, the report says, competition is tough as multinationals also develop their own generic divisions in emerging markets.

[i]In the US, the [b]Food and Drug Administration[/b] has announced that it will launch a new generic drug testing programme[/i] that will affect all generic products in the US, taking place at leading academic centres across the country. According to [s]Pharmaceutical Online[/s], experts believe that having pharmaceutical companies test their own drugs has led to lower quality products, which has negatively affected patients and the medical community.

[link url=http://www.financialmail.co.za/fmfox/2014/03/27/generic-medicine-unhealthy-boost-sales]Full Financial Mail report[/link]
[link url=http://www.pharmaceuticalonline.com/doc/fda-now-testing-generic-drugs-at-leading-academic-centers-0001]Full Pharmaceutical Online report[/link]

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