by Brigitte Taim

Pharma Dynamics steals lead

The company is leading in the cardiovascular drug market

Pharma Dynamics has taken the lead in cardiovascular medicine markets in SA
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Pharma Dynamics was already poised for exceptional growth when it took poll position in the generic CVS market earlier this year, and according to the latest industry results by IMS Health, has now even outsmarted big players such as Astrazeneca, which has held the top position for the past five years.

Paul Anley, CEO of Pharma Dynamics attributes the company’s market-leading position to a strengthened pipeline of affordable, quality cardiovascular generics.

“With rising costs of healthcare, government and payers alike are pushing for increased generics usage. Big firms, which traditionally banked on sales of their original high-priced medicines, have now come into direct competition with medicine providers such as Pharma Dynamics whose business model is built around selling large volumes of effective medication at much lower margins.

“Our business methodology includes sourcing products from the largest vertically integrated manufacturers globally, that provides economies of scale and a cost leadership advantage, as opposed to others that manufacture small production runs for domestic markets,” says Anley.

A noteworthy number of products also came off patent this year and Pharma Dynamics was first off the blocks with launching generic equivalents of much-in-demand CVS medication – some of which retailed at less than half the price of competitor brands, which saw the company gaining significant ground.

The cardiovascular pharmaceuticals market in South Africa is the 5th largest contributor to domestic pharmaceutical sales contributing in the region of 10%.

“Our market is characterised by a huge demand for cardiovascular drugs, which is set to increase substantially in the next five to ten years. The growing patient population, patent expiry of popular blockbuster drugs, an increase in disposable income and introduction of newer generics is helping the market to develop,” says Anley.

The company has more than doubled in size in the past two years, which is partly because of some savvy choices: Pharma Dynamics has built up a stable of more than 40 products in the past ten years, complemented by a network of manufacturing partners and raw materials suppliers in 11 countries. It has also differentiated itself by launching a wide range of slow release formulations which often require more advanced technology and manufacturing processes.

Anley notes that even though the company already offers one of the widest ranges of CVS products in SA, it will continue to grow its share of market through launching more affordable versions of high-priced medicine which will further expand access to newer molecules within the CVS arena.

Currently the HMG-CoA reductase inhibitors drug class (statins used to treat high cholesterol) dominates the South African cardiovascular market with a share of 18%, and the top 20 products by SA cardiovascular sales in the year to September 2012 generated annual sales in excess of R1-billion – three of which forms part of Pharma Dynamics’ diverse product portfolio.

For further information contact

Brigitte Taim from Lange 360: 

E: brigitte@lange.co.za

T: 021 448 7407

M: 082 410 8960

 

 

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