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The innovative and profitable pharmaceutical industry in Canada is composed of brand-name drug companies and generic drug companies. Both segments produce prescription and non-prescription drugs. The Pharmaceutical sales in Canada is though two percent of the world market, however, Canada still ranks as the 8th largest world market in sales. The eight percent annual growth makes Canada the 4th fastest growing market, after China, Mexico and Spain (IMS Health, 2005). The top ten companies accounts for almost 60 percent of total pharmaceutical sales while the top 5 companies accounted for nearly 40 percent of total sales in Canada. Pfizer Canada dominates 13.4 percent of Canadian drug sales followed by AstraZeneca and Johnson & Johnson with around 6.5 percent share each. The Canadian generic market is in the hands of Canadian owned Apotex, and Israeli company Novopharm with a total market share of over 8 percent.
The innovative and profitable pharmaceutical industry in Canada is composed of brand-name drug companies and generic drug...Read more
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