LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market intelligence solution. This success story highlights how Infiniti’s market intelligence solution helped a company in the generic drugs market cut down the cost of new drugs development by streamlining the R&D process and eliminating overhead expenses. Also, gather detailed insights into the approach undertaken by the experts at Infiniti Research to help the generic drugs market client achieve savings of over $8.8 million in a year.
The US generics market is expected to witness substantial growth over the coming years owing to a large number of patent expired branded drugs, increasing healthcare expenditure, and rising prevalence of chronic diseases. However, evolving governmental regulations and rising generic drug prices are expected to hamper the generic drugs market development. Besides, generic drug manufacturers are facing decreasing return on investment due to price erosion in key markets. As such, generic drugs manufacturers will need to foresee changing market dynamics and look for other markets to sustain growth.
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Business Challenge: The client is a generic drugs manufacturer based out of the United States. The manufacturing challenges with generic drugs continued to precipitate recalls and shortages for the client. Also, the company faced difficulties in the import and sales of numerous generic products due to rising FDA regulations. Besides, the rising concerns about the safety and efficacy of extended-release generic drugs made it difficult for the generic drugs market client to promote their products. In addition, the ongoing problems with generic drugs quality spurred new efforts by the Center for Drug Evaluation and Research (CDER) to ensuring drug quality throughout the product lifecycle. The generic drugs market client, therefore, wanted to undertake strategies to combat challenges coming their way. They approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.
Our experts can help you in identifying pharma market changes, dynamic customers’ buying behaviors, and competitors’ clinical strategies using our advanced market intelligence solutions that can be tailored to suit your unique business requirements. Contact us to know more.
Our Approach: To help the generic drugs market client tackle the above-mentioned challenges, the experts at Infiniti Research conducted a market intelligence solution, industry mapping analysis, market risk assessment, and product development strategy. The experts also provided the client with profiles and pipeline of players that are currently developing generic drugs. Also, in-depth interviews with pharma pricing experts and government officials were conducted to obtain granular information specific to drug pricing.
Business impact of the market intelligence solution for the generic drugs market client:
- Kept pace with the FDA’s changing regulations and policies
- Ensured drug quality throughout the product lifecycle
- Identified strategies to cut down on production costs and improve operational efficiency
- Competitively priced their new drug by analyzing the price of similar drugs in the market
- Cut down the cost of new drugs by streamlining the R&D process and eliminating overhead expenses
- Analyzed the complete product development lifecycle, trade-offs, and gained insights on product-specific revenues to boost the value proposition
- Kept pace with technological developments to support them in enhancing the quality of clinical studies
- Implemented cost-effective technologies and reduced manufacturing challenges
- Efficiently managed supply-demand requirements
- Identified import policies and evaluated profitable markets for expansion
- Identified rising safety concerns around generic drugs and implemented strategies to enhance the safety and efficacy of generic drugs
- Enhanced generic drugs quality and increased sales
- Achieved savings of over $8.8 million in a year
Want to know how our services can help generic pharmaceutical companies strategize their business functions? Request more info and our experts will get in touch with you with comprehensive insights.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us