A ‘GENERIC’ MARKET STRATEGY FOR TODAY AND TOMORROW
Once a drug comes off patent, generic drug manufacturers such as BioPharmcor, can start to produce their own version of the drug at a fraction of the cost.
In large developed markets for generic pharmaceuticals, it is estimated that generic medicines save the consumer today billions of dollars at retail pharmacies. That ‘saving’ figure rises dramatically when one considers the use of generic drugs by hospitals.
By 2016, market experts project that the value of the total global generics sector will have risen to $358 billion, representing more than 18% of all pharmaceuticals, a projected compound annual growth rate (CAGR) of 9.7% between 2011 and 2016. The Men’s Health component of the global generic drugs market represents approximately 4-5% of the total market and is forecasted to grow at the rate of 4.1 % annum to approximately $12.5 billion by 2017.
At BioPharmcor Sp z o.o., we have initiated a unique product marketing strategy aimed at garnering a competitive market position in the generic drug market aimed at advancing men’s health. Biopharmcor's product line is focussed on the two most prevalent Men's Health issues, namely erectile dysfunction (ED) and benign prostatic hyperplasia (BPH) which causes difficulties in urination. The urinary difficulties, mostly commonly referred to as lower urinary tract symptoms (LUTs), significantly decrease quality of life.
Both ED and BPH/LUTs are common as men age, with more than 50% of men suffering from ED, BPH/LUTs, or both at the same time. Biopharmcor's generic Men's Health medications have been specifically selected to allow for the best treatment response and patient safety, and are the first-line therapy options for ED and BPH/LUTs as determined by both European and North American guidelines for treatment of these disorders.
By lowering the costs of providing therapeutic treatment for men suffering from urologic disorders, BioPharmcor’s product line of generic ED and BPH drugs will find burgeoning consumer markets throughout the EU and other global markets. While the overall market for physician prescribed ED and BPH medications in Poland and the rest of the EU has lagged behind North American markets, it is anticipated that the revenue and profit potential for BioPharmcor will increase year on year once the Company receives the requisite market approvals to sell its low cost generic version of ED and BPH drugs.