Generic drugs: Observers are wondering what's next
Here’s how the generic Rx marketplace is shifting in Canada (1100 words, 6 minutes)
According to the Canadian Generic Pharmaceutical Association, the Canadian generic drug market provides affordable alternatives to brand-name medications. Yet there is evidence that Canadians often pay significantly more for generic pharmaceuticals than patients in other countries. That’s an old and familiar controversy, but recent developments have the potential to reshape the sector.
The Canadian Pharmacists Association says the broad availability of generic drugs is crucial in managing healthcare costs while ensuring mainstream access to vital medications.
However, the recent sale of Apotex, a cornerstone of Canadian generic drug manufacturers, to SK Capital, a U.S.-based private investment firm, has drawn attention and raised questions.
The website FiercePharma observes that Apotex has long been synonymous with generic drugs in Canada as one of a small number of dominant suppliers. The privately held company took on notoriety following the murders of owner Barry Sherman and his wife, Honey. The emerging question is how Apotex’s recent sale to foreign-based venture capitalists may alter the sector.
Additional sources:
https://www.health.gov.on.ca/en/pro/programs/drugs/how_drugs_approv/how_drugs_approv.aspx
https://www.fda.gov/drugs/frequently-asked-questions-popular-topics/generic-drugs-questions-answers
THIS WEEK 10/24/23
Coherus BioSciences and Shanghai Junshi Biosciences announced the U.S. FDA approved toripalimab-tpzi (Loqtorzi) in combination with cisplatin and gemcitabine for first-line treatment of metastatic or recurrent locally advanced Nasopharyngeal Carcinoma (NPC) in adult patients and as monotherapy for adults with recurrent, unresectable, or metastatic NPC with disease progression on or after platinum-containing chemotherapy.
The U.S. FDA approved Eli Lilly’s mirikizumab-mrkz (Omvoh), an interleukin-23p19 (IL-23p19) antagonist, to treat moderately to severely active ulcerative colitis in adult patients.
Organon Canada announced the availability of adalimumab (Hadlima), a biosimilar for Humira, in a high-concentration, citrate-free version.
Pharmascience Inc. of Montreal announced a major expansion of its sterile injectable manufacturing facility in Candiac, Québec, supported by Innovation, Science and Economic Development Canada’s Strategic Innovation Fund and the Government of Québec through Investissement Québec.
LISTEN UP
In season 11 of the NPC Podcast, Kevin Leshuk, President and CEO of Forus Therapeutics, gives insights into advancing blood cancer therapeutics in Canada, managing your career, and pivoting with change. Hear him in conversation with podcast hosts Mitch Shannon, Jim Shea and Mark McElwain.
HEALTHBIZ REWIND
This feature of NPC Healthbiz Weekly looks back at some of the most insightful moments from previous NPC Podcast episodes. In Healthbiz Rewind, you’ll read bold life sci predictions made during the renowned “Prognostication Korner” segment of the NPC Podcast.
Ken Chan
Chief Administrative Officer and Bursar
University of Toronto - Victoria University
Toronto
Season 05, episode 08
Listen to this episode here
Have we changed how we operate and how we work? What could we look forward to post-pandemic? (This episode was recorded in September, 2021)
I think there are lots that we can take away from the last two years. One lesson that I believe to be quite powerful, as someone who has worked in life sciences and the biotech world, is the role that innovative pharmaceutical and biotech companies play in advancing health and wellbeing. At this time last year [2020], if one said vaccines were coming, and that’s going to be our passport out of this pandemic, I probably would have said, “Let’s see how things unfold.” Still, when you think about it in Canada, multiple vaccines that have been tested, approved, and deemed safe and effective are currently on the market. So, this is one of those moments that show the power of innovation and resilience in the pharmaceutical and biotech industry. Working with scientists at universities and hospitals worldwide indicates that when the industry, academia, and the government come together, something good can come out of it.
As we look to the future, thinking about the various disease areas, we must look beyond the pandemic and Covid-19. Let’s think about rare diseases, for example. The fact that we’ve had scientists and governments come together very quickly to approve after a rigorous review of those [Covid-19] vaccines and found a way to make it accessible by helping pay for it gives us hope that as we think about future unmet needs, there’ll be an opportunity for us to get innovative medicines to the hands of patients much faster.
Just four weeks away: It’s the 17th Annual National Pharmaceutical Congress on Wednesday, November 22, 2023
The 17th Annual National Pharmaceutical Congress will be held on November 22, 2023, at the Mississauga Convention Centre. As Canada’s most significant stage for leaders in the pharmaceutical industry, the Congress presents industry reflections, ideas, and innovations. The Congress is attended by more than 200 delegates annually and is an opportunity to learn, reflect, and network with the industry’s most prominent thought leaders and visionaries. Register now for 50% off the regular price.
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