SOURCE: The Bedford Report

The Bedford Report

May 23, 2011 08:16 ET

Generic Drug Makers See Surge in Demand

The Bedford Report Provides Analyst Research on Teva Pharmaceutical & Mylan

NEW YORK, NY--(Marketwire - May 23, 2011) - Poor consumer confidence and high unemployment has motivated shoppers to lower spending in all areas of their lifestyles. This includes medicines, as generic drugs offer a much less expensive alternative to brand name versions. Generic drugs have gained a great deal of popularity in recent years, providing relatively similar efficacy at less cost. The Bedford Report examines the outlook for companies in the Healthcare Sector and provides research reports on Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) and Mylan, Inc. (NASDAQ: MYL). Access to the full company reports can be found at:

IMS Health projects that the sales and production of prescription drugs could be cut in half within the next five years. This is due to the fact that huge brands are losing patent protection and consumers prefer generic drugs over prescriptions as they are cheaper. Generic drugs are low-cost versions of brand-name drugs that are not identical, but use the same active ingredient. They traditionally go on sale after the patents on the branded version expire or are overturned in court. Estimates are that cheaper generic formulations of the maturing drugs will produce $98 billion in net savings to insurers in developed countries through 2015.

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Teva has as many as forty potential drug launches lined up for 2011 with important product launches include generic versions of Zyprexa, Levaquin, Aricept and Nasacort. The world's largest maker of generic drugs recently said its first quarter profit grew to $761 million, or 84 cents per share, from $714 million, or 79 cents per share, a year ago.

Earlier this month Mylan announced that it is now selling a generic version of Xibrom eye drops, which were discontinued in February by their original maker, ISTA Pharmaceuticals. ISTA discontinued Xibrom after a once-per-day version of the same drug, Bromday, was approved by the Food and Drug Administration. Mylan said U.S. sales of bromfenac solutions totalled $116 million over the 12 months ended March 31.

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