At the point when a branded medicine’s UK patent expires, manufacturers of generic versions are poised to swoop in.
“On the very day a product comes off patent, you will see 15 different competitors entering the market,” says Venugopalan Muralidharan, President – European Formulations Operations at Aurobindo.
“The market is flooded with the product and the price drops. So we need to showcase why we are the best, whether in terms of price or supply continuity and stability.”
Half of the generics suppliers in any such scenario are likely to be Indian-based businesses, like Aurobindo itself. Despite the fierce competition, they see the UK pharma market as a highly attractive one.
Historical and language ties are still strong. More practically, Indian pharma firms are drawn by the strength of the UK market, Europe’s fourth largest after Germany, France and Italy.
For generics manufacturers, the UK is especially attractive: generic drugs make up 87% of the medicines volume. The UK’s pool of highly qualified talent is another draw; the presence of the highly-regarded Medicines and Healthcare products Regulatory Agency helps too.