The Rapidly Expanding World of Generic Pharmaceuticals
The global generic market has exceeded $61 billion and is growing at approximately 14% per year. With increased demand for low-cost therapies, this level of growth is expected to continue into the future. According to current estimates, over 60% of prescriptions written in the U.S. are now filled with generic drugs.
According to current estimates, over 60% of prescriptions written in the U.S. are now filled with generic drugs.
As the global demand for generics has grown, competition has increased and prices have decreased. With the price declines, cost of manufacturing has become critically important. To gain a competitive advantage, generic chemical companies around the world are seeking technology that will enable them to differentiate their products and lower costs while continuing to meet higher regulatory standards. This has provided Codexis with a unique opportunity to establish itself as a low-cost supplier by applying its proprietary technology to improve chemical processes, help ensure product quality, and reduce manufacturing time, cost, and waste.