Sales of generic medications grow 47% in third quarter

Rating
+1
Total:	1

SÃO PAULO (SP), 19 de novembro de 2008 - The crisis seems to have had an inverse collateral effect on the generic pharmaceuticals industry. In the third quarter this year, while various sectors struggled with financial problems, the laboratories that manufacture this kind of medication was breaking sales records, moving US$588 million. That value is 47% greater than the US$401 million registered during third quarter 2007. In the accumulation for the first nine months, the manufacturers invoiced US$1.5 billion, up 15.4% over the same period last year, according to data from IMS Health, an institute that tracks the generic pharmaceuticals industry.

According to Odnir Finotti, vice-president of the Brazilian Association of Generic Medications Companies (Pró Genéricos), the growth has been constant and serves as an indication of the trend of expanding use of generic drugs, attributed to increased Brazilian income. 'Added to this, this type of product, up to 35% cheaper, permits greater access of the population to medication,' he said. Finotti noted that the increased offer of generics also contributed decisively to this expansion. The entity also detects growing constant use of medications like anti-hypertension drugs, insulin, antidepressants, obesity control drugs and others.

Sales volume also grew substantially, rising from 60.6 million units (boxes) marketed between third quarter 2007 and 73.4 million in the same period this year, a 21% increase. In the accumulation for the year, volume was up 17%. With this, generic medications increased their market share to 17.7% of total sales, the biggest since they began to be marketed in Brazil in 2000. In values, this represented growth from 13.5% to 14.3% of market revenues.

(Anna Lúcia França - Gazeta Mercantil)