Top 4 Companies Boosting the Accessibility to Cancer Care by Offering Innovative Generic Oncology Drugs

Viatris, Hikma Pharmaceuticals PLC, Stason Pharmaceuticals, and Mayne Pharma, among others, are the major players in the global generic oncology market.

The global generic oncology drugs market is expected to grow at a CAGR of 9.1% in the forecast period of 2022-2027. As per the analysis of Expert Market Research, the market is driven by the growing cancer cases across the globe.

The growing cancer cases owing to the rising smoking rates and prevalence of inactive lifestyles and unhealthy eating habits are driving the market growth of generic oncology drugs. The governments of emerging countries are increasingly surging their spending to promote generic drugs for reducing overall healthcare and medical expenses, hence bolstering the market for generic oncology drugs. Furthermore, the increasing approval of innovative generic oncology drugs by healthcare bodies such as the FDA is likely to positively influence the market.

Technological advancements and research in the healthcare and biotechnology sectors are expected to boost the development of easily affordable oncology drugs. Moreover, the rising investments in R&D activities by leading companies are anticipated to increase the development of innovative and new generic oncology drugs in the market.

Various leading companies are increasingly launching generic versions of existing cancer drugs to enhance their affordability in cancer treatment. In September 2022, Dr. Reddy’s Laboratories Ltd. announced the launch of a therapeutic equivalent generic version of REVLIMID (lenalidomide) Capsules, Lenalidomide Capsules. Through this, the company aims to boost the accessibility and affordability of the critical cancer drug.

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Top 4 Generic Oncology Companies in the World

Viatris

Viatris is a leading producer of high-quality medicines for various therapeutic areas. The company was formed after Mylan merged with Upjohn, Pfizer's off-patent medicine division. The company aims to increase the accessibility to affordable and high-quality medicines for patients across the globe. With 37,000 employees, the company’s portfolio includes iconic and best-in-class products and complex generics.

Hikma Pharmaceuticals PLC

Hikma is a healthcare company that aims to enhance the accessibility to robust healthcare by developing high-quality medicines. With more than 8700 employees across the globe, the company has 7 R&D centres and 32 manufacturing facilities. In 2021, the company generated revenue of USD 2553 million. The company’s portfolio includes 670 high-quality products and it focuses on various high-therapeutic areas like oncology, CNS, and respiratory.

Stason Pharmaceuticals

Stason Pharmaceuticals is a pharmaceutical company that develops various drugs in core therapeutic categories, including renal and oncology indications. It also offers contract services to drug-development companies, analytical testing, and contract packing through its Western PharmSci and MPhS divisions. With 13 locations in 9 countries, the company aims to develop new processes for synthesising target molecules, optimise existing synthetic methods, and custom manufacture chemicals.

Mayne Pharma

Mayne Pharma is speciality pharmaceutical company that is focused on commercialising generic and novel pharmaceuticals. With its expertise in complex oral and topical dose forms, the company employs nearly 900 people across the globe, along with a team of over 200 scientists. The company aims to improve the accessibility of innovative medications by providing a robust portfolio of generic and branded drugs in several therapeutical areas such as dermatology and women’s health, among others.