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(Medical-NewsWire.com, December 19, 2018 ) Prominent players in the Active pharmaceutical ingredients market include Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (U.S.), GlaxoSmithKline plc (U.K.), Merck & Co., Inc. (U.S.) and AbbVie Inc. (U.S.).
The Active pharmaceutical ingredients market is highly competitive and fragmented with many big and small players as well as contract manufacturing organizations. Pfizer, Inc., a leading player in the APIs market. Pfizer’s leading position in the market can be attributed to its exhaustive product portfolio spread across its business segments includng Global Innovative Pharmaceuticals (GIP); Global Established Pharmaceuticals (GEP); and Global Vaccines, Oncology.
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As part of its growth strategy, the company focuses on adopting both organic and inorganic growth strategies such as agreements, partnerships, collaborations, approvals, and acquisitions. In accordance with this, in June 2016, Pfizer acquired Anacor Pharmaceuticals, Inc. (U.S.), a leading biopharmaceutical company developing small molecule therapeutics. Moreover, in September 2015, Pfizer acquired Hospira (U.S.), a global leader in biosimilars. This acquisition enabled the company to broaden its products offerings.
Novartis International AG (Switzerland), is another leading player in this market. The company’s strengths lie in its strong brand recognition and robust product portfolio. the company invests a significant amount of its revenue in R&D activities. In 2015, the company invested 18.0% of its total revenue (USD 8.9 billion) on R&D. This significant investment in R&D enables the company to launch innovative and technologically advanced products in the market.
Novartis also focuses on inorganic growth strategies to sustain its foothold in the market. For instance, in June 2016, Novartis entered into a licensing and collaboration agreement with Xencor (U.S.), a biopharmaceutical company that develops engineered monoclonal antibodies. The purpose of this agreement was to develop bispecific antibodies for treating cancer.
The key strategies followed by most companies in the Active pharmaceutical ingredients market are agreements, collaborations, partnerships, joint ventures, and alliances; regulatory approvals, mergers and acquisitions; expansions and investments. Among all growth strategies adopted by market players, agreements, collaborations, partnerships, joint ventures, and alliances accounted for the largest share of the overall growth strategies mapped from 2013 to 2016.
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Some leading players adopting these strategies include Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and Merck & Co., Inc. (U.S.).
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