FiercePharma | Eric Palmer
To most of the world, the term "generic" suggests something
everyday, common or bland, but to the drug industry generic is anything but
bland. It represents a high-volume, low-margin business that is certainly not
for sissies.
It calls for scientific and manufacturing skills, a superb sales operation,
and fortitude. It comes with risks but also has plenty of rewards. In the U.S.,
the largest drug market in the world, generic drugs account for 80% of the
prescriptions written. According to data from the market intelligence miners at
EvaluatePharma, worldwide sales of generic drugs in 2014 were $74.2 billion, up 7% for
the year. Of that, the top 20 generics producers collected $61.7 billion, 83.1%
of the take.