Galenicum in the news
January 25, 2016
January the 20th, la Vanguardia, a Spanish renowned newspaper, mentioned Galenicum as one of the most relevant players in the Spanish generic market. Galenicum as well as other important generic companies contribute in generating wealth in the market as well as stable employment.
The pharmaceutical generic sector in Spain is experiencing a period of stabilization after the strong growth experienced between 2008 and 2012. It was after the economic crisis that the Government implemented measures in order to reduce the total health spending. Because of that, the generic market share in terms of value increased from a 9% to a 20% with a market share of 40% in volume. Nevertheless, the generic Spanish sector is still far below from other countries such as France, Germany or United States, where the market share is over the 60%.
Although the future is promising, the generic pharmaceutical sector will have to face some challenges like the new developments of biosimilars and a reduction of new launches due to the fact that less patents will expire in the next years.