Eurofarma aims for second spot in Brazil after market shift to generics

Donino Scherer, commercial director for generic drugs at Brazil-based multi-national company (MNC) Eurofarma, this week commented on the prospects for the firm and Brazil’s generic drugs market. He revealed that last year the company grew 32% year-on-year (YOY) to reach BRL 779 million (USD 138 million) turnover, with the generics unit launching 18 medicines and selling over 118 million units that accounted for 14.4% of net income.

This year, Eurofarma is aiming for above-sector average growth with the launch of 22 generics, of which 8 are already on the market including antilipidemic drug pitavastatin. The firm also expects to become the second largest generics supplier in the country in the following months, from currently occupying third spot with a 12.2% market share.

According to Scherer, the economic crisis brought about by the COVID-19 pandemic will accelerate the growth of the generics market as patients realize the benefits of these affordable drugs, whose quality is guaranteed by regulatory stringency and manufacturers’ investments in infrastructure, which exceeded BRL 1.5 billion (USD 266 million) over the last 10 years.

The executive noted that the 120 generics makers in the country hold over 3,800 drug registrations, accounting for 34.1% of the pharmaceutical market according to the Generic Pharmaceutical Association (Pró-Genéricos). This compares to more mature generics markets such as Spain, France, UK, Germany, and the US, where unit sales represent 31%, 42%, 60%, 66%, and 80% of the total respectively. The global generics market is currently estimated at USD 150 billion to USD 200 billion in size, and enjoying a 10.8% annual growth rate.


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