New Delhi, Nov 26 (IANS) Contract manufacturing revenues in the pharmaceutical finished dose sector witnessed a significant slowdown over the past financial year, according to a report on Tuesday.
Pharmaceutical contract manufacturing is when a company hires a third-party to produce drugs for them.
The report by GlobalData, a data and analytics company, showed that challenging market conditions, driven by drug pricing pressures, regulatory shifts, and geopolitical tensions, have reshaped the landscape.
This offers both hurdles and opportunities for contract manufacturing organizations (CMOs) to adapt and innovate amidst global generic shortages, reveals the report. It showed that the slowdown marks a sharp contrast to the rapid growth seen in 2020-22.
“Many commercial dose manufacturers have experienced low growth, with difficult business conditions generated by drug pricing and reimbursement constraints, the Inflation Reduction Act of 2022, and geopolitical conflicts. Despite the ongoing challenges in the geopolitical landscape, inflation is declining, and biotech funding is showing signs of recovery, giving hope for higher growth in future years,” said Adam Bradbury, Pharma Analyst at GlobalData.
Global generic shortages have worsened over the past year, leaving patients without access to essential medications. Many governments are now intervening to prevent escalating shortages by stockpiling certain essential drugs, investing in domestic pharma manufacturing, or considering allowing price increases for generics to encourage their production.
CMOs with the capacity to make generics — including less technically innovative manufacturers — have an opportunity to help resolve these shortages and win business.
“Two major deals, by Catalent and Recipharm, are reshaping the dose CMO landscape. Novo Nordisk’s parent company is acquiring Catalent to improve Novo’s supply of GLP-1 receptor agonists, Ozempic and Wegovy,” Bradbury said. “Novo Nordisk will purchase three of Catalent’s fill-finish sites (Anagni, Italy; Bloomington, Indiana, US; and Brussels, Belgium) as part of the deal,” he added.
–IANS
rvt/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
