The New Breakthrough in the Global Pharmaceutical Industry
While the manufacturing of medicines is predominantly located in the countries of India and China, most of the active ingredients are manufactured in other parts of the world. The main products of pharmaceuticals include branded and generic drugs.
Generic drugs are produced from the chemical structures of the active ingredients of patented drugs
Teva is a global leader in the manufacture and distribution of generic pharmaceuticals. The company is largely based in Europe and the two major product segments are Curesa and Teva Bioactive Purity. Curesa is the generic version of Teva’s popular anti-inflammatory OTC gout treatment Leukotriene. Curesa is also the generic alternative of Accutane, a widely used treatment for patients suffering from severe arthritis.
Biotechnology is a rapidly growing area of pharmacy.
Several companies in the biotechnology field have made major contributions to the pharmaceutical industry. Biotechnological plants usually use genetic engineering techniques to produce genetically engineered plants and animals. Some of the pharmaceutical companies based in New Zealand dedicated themselves to biotechnology research and development. Merck, one of the largest pharmaceutical companies in the world, has an entire division dedicated to researching and developing biotechnology products.
Many pharmaceutical products are derived from plants, vegetables or other natural sources. Two of the largest pharmaceutical companies, GlaxoSmithKline and Jansport, manufacture many of their medicines in an environment that mimics the plant environment. In this way, the development of the products is not affected by the soil in which the raw materials are grown. Some examples of natural sources of therapeutic proteins are animal tissues such as lymph and blood cells and human plasma. Another example is plant extracts such as L-carnitine, which is extracted from red wine.
Biomedical drugs are those that have not undergone any chemical modification during the growth process.
Biotech companies are concentrating on the manufacturing of small molecules that can be targeted to a particular cellular function. Some examples of small molecules produced by biotechnology companies include insulin, enzymes and DNA regulatory proteins. The biopharmaceutical sector is expected to generate $1.5 billion u.s. dollars in revenue in 2021 according to the open data provided via dataroom.
Biotechnological plants usually rely on traditional clinical testing procedures to gain approval for new drugs.
Once approved, the plants are able to manufacture the drugs under the guise of various generic names. Generic names refer to the medicines manufactured under the Biopharmaceutical Agreement signed between the manufacturer and the pharmaceutical authority of the country or the territory where the medicines will be manufactured. After clinical testing is concluded, the generic name is registered with the EPCS (European Union Pharmacopoeiac System). This system ensures that the generic name is identical to the brand name. It also ensures that the same medicines being manufactured under the control of the EPCS will not be sold under different brand names.
Another upcoming milestone in the development of the global pharmaceutical industry is the launch of a new plant by three Chinese Pharma companies. The two Chinese companies are involved in the production of curcumin, which is a derivative of turmeric. The drug, which has the potential to cure cancer, has been given the green signal by the Food and Drug Administration (FDA). However, it is still not released into the market as of now. The approvals by FDA and European Medicines Agency, respectively, are expected within the next few years.
Vitek etf is a promising new discovery in the field of bio-tech drugs. This is an orphan drug and the sole developer is a Japanese pharmaceutical giant, Shiseido. Vitek’s principal role is the development of new chemical entities to treat diseases such as cystic fibrosis, cancer and multiple myeloma. It is expected that within the next five years, the bio-tech pharmaceutical companies will introduce many more novel plant extract into the global market. Stay tuned!