Our playing field is the international generic industry. This is an industry with vast untapped potential, both geographically and technically, as generic pharmaceuticals become available in more markets and new difficult-to-make formulations are added to the generic portfolio. The industry is recession resistant by nature and is an answer to rising healthcare costs and ongoing need to improve the efficiency of healthcare systems around the world.
But it is about the survival of the fittest.
Competition, drastic price erosions, fewer patent expiries, and changes in regulations and local reimbursements put tremendous pressure on the generic companies to seek ways to reduce the time to market, build valuable portfolios and lower costs. Furthermore, growth through mergers and acquisitions for economy of scale is more difficult to achieve in today’s global economy.
Alvogen’s answer is to build a new company designed to take advantage of the current situation and overcome the traditional challenges of the generic industry. Build a second-generation generics company, capable of challenging industry dynamics and rethink current business models.