Genepharm aims for bigger generics role in Australia
Privately owned Greek pharma company Genepharm plans to capture a bigger slice of Australia's fast-growing generic drugs market and to register some 20 drugs during the next 12 months at a cost of about A$65,000 each.
Privately owned Greek pharma company Genepharm plans to capture a bigger slice of Australia's fast-growing generic drugs market and to register some 20 drugs during the next 12 months at a cost of about A$65,000 each.
Genepharm Australasia stated many were blockbuster drugs due to come off patent, including anticholesterol drug Lipitor and the antidepressant Zoloft.
However, analysts consider the company is unlikely to become profitable until 2007. Its major local competitors with significantly higher market value and market share, are Hexal, Sigma Pharmaceuticals and Mayne Group.
Merck-backed Alphapharm and Arrow Pharmaceuticals control about 86% of Australia's A$900m generics market, expected to double over the next five years as patents on some 50 high value Pharmaceutical Benefits Scheme listed medicines expire and an ageing population fuels demand for medicines.