Latest news with #genericmedicines
Daily Mail
30-06-2025
- Business
- Daily Mail
UK pharma group Hikma ploughs $1bn into US manufacturing as tariff threat lingers
Medicines firm Hikma Pharmaceuticals plans to invest $1billion into US manufacturing and research and development over the next five years. The London-headquartered firm told investors on Monday the investment would expand its domestic capabilities 'to develop, produce and deliver a broad range of medicines needed by the US healthcare system to treat patients nationwide'. Hikma specialises in generic medicines - medications created to be the same as a brand-name drug, but usually sold at a lower cost. It comes as the UK-US trade deal comes into effect today, leaving UK carmakers with reduced tariffs of 10 per cent and removing levies on the aerospace sector entirely. However, Britain's pharmaceutical sector still faces the potential for further tariffs down the line, as well as recent suggestions the White House could move to clamp-down on the price of medicines in the US. UK pharma sold £6.6billion worth of products to the US last year, meaning the sector is Britain's second-biggest export to the country. President Donald Trump's threat to end exemptions on pharma tariffs, which are driven by a 1995 World Trade Organisation deal, has sparked fears that disruption to the sector's highly complex supply chain could have implications for UK pharmacies and patients. Hikma said on Monday it has provided access 'to a wide range of generic medicines at a lower cost than branded products' since operating in the US since 1991. The group's 'America Leans on Hikma' strategy plans to increase the volume of 'essential medicines' developed and produced across its R&D and manufacturing sites in Columbus and Cleveland, Ohio and New Jersey. Hikma said: 'This next phase of expansion will help to strengthen Hikma's portfolio of more than 800 medicines and increase the company's US-based capacity to produce large volumes of high-quality and affordable medicines for American hospitals, providers and patients.' President of Hikma's generics business Dr. Hafrun Fridriksdottir added: 'We are proud to continue our ongoing investments in US manufacturing and R&D to better serve the needs of American patients. 'Hikma and our 2,300 dedicated US people are committed to supporting healthier communities nationwide by providing Americans with a steady and reliable supply of domestically produced quality medicines.'
Times of Oman
19-05-2025
- Health
- Times of Oman
From generic drugs to vaccines, Indian pharma industry is transforming lives worldwide
New Delhi: India has transformed itself into a global health leader in terms of affordability, innovation, and inclusivity over the past decade. India's pharmaceutical industry is a global giant ranking third in volume and 14th in value. It's the largest supplier of generic medicines providing 20 per cent of the world's supply and a key player in affordable vaccines. In 2023-24, the sector's turnover hit Rs 4,17,345 crore growing steadily at over 10 per cent annually for the past five years. For the common people, this means more medicines at lower prices, better healthcare and jobs in factories and labs across the country. From small towns to big cities, India's pharma growth is creating opportunities and saving lives. The government claims that its schemes are the backbone of this success. The Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) runs 15,479 Jan Aushadhi Kendras, offering generic medicines at prices up to 80 per cent lower than branded ones. A heart medicine that once cost Rs 500 might now cost Rs 100. The Production Linked Incentive (PLI) Scheme for Pharmaceuticals with Rs 15,000 crore, supports 55 projects to make high-end drugs like cancer and diabetes medicines right here in India. Another PLI scheme with Rs 6,940 crore focuses on raw materials like Penicillin G, reducing our need for imports. The PLI for Medical Devices backed by Rs 3,420 crore is boosting production of tools like MRI machines and heart implants. Then there's the Promotion of Bulk Drug Parks scheme with Rs 3,000 crore building mega hubs in Gujarat, Himachal Pradesh and Andhra Pradesh to make medicines cheaper and faster. The Strengthening of Pharmaceuticals Industry (SPI) Scheme with Rs 500 crore, funds research and upgrades labs, helping Indian companies compete globally. "These efforts mean medicines are made in India, for India and for the world keeping costs low and quality high," the government said in a statement. India's pharma sector supplies 55-60 per cent of UNICEF's vaccines, meeting 99 per cent of WHO's DPT (Diphtheria, Whooping cough and Tetanus) vaccine demand, 52 per cent for BCG (Bacillus Calmette-Guerin is a vaccine primarily used against TB), and 45 per cent for measles. From Africa to America, Indian vaccines save millions. At home, these schemes create jobs for young Indians, from factory workers to scientists. Foreign investors are pouring in with Rs 12,822 crore in 2023-24 alone, because they see India's potential. India welcomes 100 per cent foreign investment in medical devices and greenfield pharma projects, making India a hotspot for global companies. India's pharmaceutical sector is more than an industry; it's a lifeline. With schemes like PMBJP, PLI, and Bulk Drug Parks, the Modi government is ensuring no one is left behind when it comes to healthcare.
