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Containing costs and improving compliance will be crucial to ensuring the growth of generic pharmaceuticals in the future, says Dilip Shah, CEO of Vision Consulting Group, in CPhI’s 2016 Annual Report, which will be formally issued at CPhI 2016 in Barcelona.
Even though generic pharmaceuticals account for most of the prescriptions issued in the US and the world, their manufacturers face major challenges in strengthening the market and ensuring growth. On p. 60 of CPhI Annual Industry Report 2016, CPhI advisory panelist Dilip Shah recommended that industry and regulators find solutions.
Shah lists the main issues as cost containment and compliance. Most of the costs stem from regulations and the approval process. He suggests the following solutions:
Source: D. Shah, Licensing of Generics: Needs and Expectations of Industry, p. 60, CPhI Annual Industry Report 2016.