Generics - Building a Sustainable Portfolio
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Speaker : PETER WITTNER
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When : Friday, January 03, 2025
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Time : 01 : 00 PM EST
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Peter Wittner, B.Sc., is an independent consultant specialising in the commercial aspects of generics with more than 35 years’ pharmaceutical experience. Before starting his own business, Peter headed the European sales and marketing departments of the UK generics companies Evans Medical and H.N. Norton, which later became part of IVAX.
He later joined the Indian generic leader Ranbaxy as Managing Director to help set up its UK business and then returned to consultancy work. Interpharm advises new market entrants on generic strategies, assists in business development for generic companies based outside the EU that are trying to enter the market and works with companies that are seeking to enlarge their product range. While mainly oriented to the commercial side with services such as market intelligence and pricing overviews for example, Interpharm also advises on IP and patent issues as well as the legal background to the pharmaceutical industry in Europe and the US.
On the other side of the equation, Interpharm has also worked with originator companies that are looking at ways of defending their major brands from generic incursion.
Standing stilt is not an option for a generic company. All companies need to evolve and change to ensure that they do not get left behind. An essential part of this is ensuring that you have a portfolio of products that is suitable for the market (or markets) in which you are active. For example, there is no point to trying to launch a range of high-priced branded generics into a market where the government obliges the pharmacist to substitute the cheapest generic in place of the prescribed product.
Areas Covered
- What is a generic? What are we selling?
- Building the portfolio – unbranded
- How do we choose our product range?
- Building the portfolio – branded
- Branded market - what are the risks
- Manufacturing – in-house or contracted out?
- Generic growth strategies
- Expansion - product palette and markets
- How the industry leaders grew
- Possible pitfalls
Who Should Attend
- Staff who are new to the generic industry or their jobs
- Product managers
- Regulatory, development, and manufacturing personnel who want to understand commercial issues
- Strategic planners
- Standing stilt is not an option for a generic company.
- All companies need to evolve and change to ensure that they do not get left behind. An essential part of this is ensuring that you have a portfolio of products that is suitable for the market (or markets) in which you are active
For example, there is no point to trying to launch a range of high-priced branded generics into a market where the government obliges the pharmacist to substitute the cheapest generic in place of the prescribed product.
Why Should You Attend
The generics industry exists in an unpredictable environment that is constantly changing, whether in terms of the legislative environment, GMP issues, pricing or the arrival of new competitors.
The generics industry also seems to be one that provides proof of Darwin's theories about the survival of the fittest.
Companies who do not evolve continuously risk ending their days being eaten by a stronger competitor that did work out how to evolve successfully. Perhaps the industry's motto should be "Evolve or become extinct"!
This then prompts a very important question – "how does a generic company survive in this jungle?" There is, of course, no single answer or strategic approach that is right for everybody. What is the right answer for one company could prove to be completely inappropriate for another.
In fact, even an answer that has previously worked for one company could go disastrously wrong for the same company at some later date. A perfect example of this is the case of the No1 Top Predator Teva that made a catastrophic mistake in 2016. Their strategy of growth by acquisition caused them to suffer terrible indigestion by trying to swallow a target that was too big (Actavis). This resulted in their suffering a US$6bn write-down in 2017.
Teva had spent years building up its product range by a combination of new launches of products developed in-house together with new products that it had acquired as part of the companies that it bought.
What the webinar aims to do is to give you some insight into possible strategies that will allow you to identify new opportunities, let you grow in a sustainable manner – and of course help you to avoid being one of those that are swallowed by a larger predatory competitor in the Darwinian generic jungle!
Topic Background
Generics, by definition, are all the same as each other. This raises an important question – how can you distinguish your company from all the other competitors? An associated question must then be – what products do you include in your range so that you are not the same as all the others? And what should you consider when expanding into a new geographical market? Building a suitable portfolio plays a significant role in helping companies to create a suitable image.
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