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Big pharma companies look to tap generic drug business in emerging markets.
By jeremyc | February 19, 2010
On the front of its Business Day section, the New York Times (2/16, B1, Singer) reports, “Some prestigious brand-name pharmaceutical companies that once looked askance at the high-volume, low-cost business of generic drugs are now becoming major purveyors of generic medicines.” Drugmakers, such as Sanofi-Aventis and GlaxoSmithKline “are pursuing a growing consumer base in emerging markets like Eastern Europe, Asia and Latin America where many people pay out of pocket for their medicines but often cannot afford expensive brand-name drugs.” In addition, “in some emerging markets, where the fear of counterfeit drugs or low-quality medicines runs high, consumers who can afford it are willing to pay a premium for generics from well-known makers, industry analysts said.”
Topics: | Generic Drugs |
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