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Insights

Looking for a Challenge?

Mar 01, 2015

Insights

Looking for a Challenge?

Mar 01, 2015

Successful generic oral solid dosage (OSD) drug manufacturers and contract manufacturing organizations (CMOs) strike a seemingly impossible balance between low cost and high flexibility. Current research suggests that the pressure on these organizations to continue to drive down costs while simultaneously positioning themselves to exploit new business opportunities will only greaten in the foreseeable future. According to the Generic Pharmaceutical Association (GPhA) 2014 annual cost savings report, generics saved the U.S. economy $239 billion in 2013, a 14% increase over cost savings achieved in 2012. The growth inherent to this overall cost savings is astounding. New generic products entering the market in 2013 saved the national healthcare system $140 billion alone. The roughly $98 billion in savings provided by established generic products has remained fairly constant over the past decade. This means that to remain competitive in the exploding generic OSD market, manufacturers must find ways to expand their product portfolios while continuing to supply their customers with established products at historical volumes.

To read more go to http://digital.pharmpro.com/pharmaceuticalproducts/ips_interphex_tour_march_2015?pg=20#pg20

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