The recently passed Inflation Reduction Act (IRA) is likely to result in a more attractive generics market for pharmaceutical manufacturers. During the four years before the IRA is in full effect, drugmakers may want to consider developing innovative generic drugs, as well as generic alternatives to reference products on the list of IRA-impacted drugs. Approached strategically, such efforts can help companies balance their portfolios, open new revenue streams, and potentially extend the timeline to patent expirations for some reference products.
In this paper, we offer three considerations generic drug manufacturers should keep in mind as they evolve their portfolios to include the next generation of accessible and affordable prescription drugs:
- Value creation through portfolio management and differentiation
- Manufacturing investments for a sustainable supply chain
- Strategic scaling to drive share and margin
As you consider these insights from our life sciences team, it should become clear that, while patent expirations for blockbuster drugs are on the decline, the need for low-cost prescription drugs is more acute than ever.