Generics to drive worldwide pharmaceutical growth

SAN JOSE, Calif. Growth in various sectors of the pharmaceutical industry is expected to come from Brazil, Russia, India and China the so-called B.R.I.C. countries according to a new report by Global Industry Analysts.

In the Asia-Pacific region in particular, government restrictions on healthcare spending and low discretionary spending power among the population is increasing sales of low-cost generic drugs, while China has emerged as a region with potentially vast opportunities for global marketplace majors.

Across various countries, the generic drugs market is seeing rapid growth thanks to the need for drugs that can save lives while remaining cost-effective. This is attracting multinational companies into production and marketing of generic versions of branded drugs. Many consumers in developing countries are gaining access to drugs previously out of bounds for them, though many of the drugs violate patents, according to the report, titled “Pharmaceuticals: A Growing Outlook.”