Generic drugs make global strides

While the U.S. generic drug market has grown at a rapid pace, the international market for generic manufacturing and use has grown as well.

Last month, the India Brand Equity Foundation released an overview of that country's generics market, saying it was "now at the precipice" of its next development stage, and noting that India's drug exports — mostly generics — had grown more than 21.5% over the last three years and accounted for more than $13 billion in annual sales, as nearly 40% of the regulatory approval applications for new generics at the U.S. Food and Drug Administration came from Indian companies last year.

Meanwhile, the Southeast Asian generics market is poised for growth. CPhI, a group sponsoring a drug industry summit in Bangkok this month, said the region's industry was projected to grow to $3.9 billion by 2016 as a variety of factors — including stable economies, population growth and government policies — drove generics. Among these were the Indonesian government's plans to have 90% of the population receiving health coverage within four years.