Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Instagram Outage Disrupts Thousands of U.S. Users 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
LONDON, Jan. 22, 2018 -- 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.
CONTACT INFORMATION
World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162
[email protected]
