Generic Pharma- Movin' on up...

Generic pharmaceutical companies are on the rise. What used to be the "poor pharma" 5 years ago, is now a very attractive sector in the industry.  In 2013, careers in the generic sector are more attractive than ever and this is based on several factors:

• Patent cliffs and it's effects (ie. downsizing and R&D cost cuts)
• Improved reputation (ie. updated manufacturing, production, and logistic centers)
• Delivering life saving medicatons that work at fraction of branded cost
• Competing at same salary as big companies to attract quality empolyees, especially in R&D
• Company culture of growth and development

 These four bullets are clearly the strengths and opportunities that generic companies dove in and took advantage of while big pharma was drowning in costs and trimming the fat.  One generic company employee states, "Research-focused Pharma/biotech is boom or bust whereas Generics is a more consistent and secure environment. It won’t be for everyone – the commercial realities mean that workload is high, the workforce is lean and the onus is on the individual to deliver their own work effectively."  It's definitely a big change from big pharma, but at the same time big pharma is evolving too.  The environments are changing as the workforce becomes leaner there, the workload is increasing too, but the adaptability to this change is a big part of the struggle, whereas generic companies are used to operating this way.

Generic pharma has had its negative press, most recently Ranbaxy's generic atorvatstatin fiasco, so it's great to see them thriving and growing as their business is not going anywhere.  Generics are the constant after all and their future is bright, projecting 90% of US medicine will be generic by 2016.


Check it out here:
Generic Pharma on the Rise