Alvogen CEO Robert Wessman speaks exclusively to World Finance about new opportunities in generic pharmaceuticals
LONDON, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Industry disruptor Robert Wessman, the CEO of rapidly growing generic pharmaceuticals company Alvogen, shares his thoughts on the latest market trends in the new edition of World Finance magazine.
Only different in name and price, generic pharmaceuticals in the US are a whopping 50 to 70 percent less expensive than their branded equivalents. Unsurprisingly, in an era of ever-rising medical costs, a growing number of governmental entities and corporations are now choosing generics over branded pharmaceuticals.
For some time, just a handful of big-name organisations dominated this nascent market. But, following its peak in 2015, over-valuations have prompted vulnerability, opening the door for new, more nimble competitors to join and disrupt the market.
Among this innovative group of 'next generation' pharmaceutical companies is Reykjavik-based Alvogen. Though it was only established in 2009, this global-facing organisation now boasts an annual turnover in excess of $1bn, thanks to its targeted pharmaceutical pipeline.
During his exclusive interview with World Finance , Wessman talks about the latest cycle to hit the global pharmaceuticals industry, which, he argues, has been created by the consolidation of the US customer base for generic drugs.
"This consolidation was somewhat mirrored by the same phenomenon on the manufacturing side, as both attempted to take advantage of economies of scale," he explained. "However, during the last couple of years, customer consolidation has greatly outpaced manufacturing consolidation. Instead, wholesalers have started teaming up with retailers in joint ventures that allow the combined partnership to act as one unit."
For more insights from Wessman about the expanding market for generic pharmaceuticals, check out the latest edition of World Finance , available in print, on tablet and online now.
World News Media is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.
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