Forxiga generics take over 30% of market in 6 mths

63 domestic companies jumped into competition with their respective generics

Cumulative prescriptions of Foxiga and Xigduo generics in Q3 amount to KRW 10.6 billion… original drug occupies KRW 25.3 billion of market

Only 5 generic companies earned over KRW 2 bil in Q2, Q3…Cumulated sales made by each of the 50 companies amount to less than KRW 30o million

Generic versions of ‘Forxiga (dapagliflozin)’ have increased their share in the market to 30% in half a year since the original Forxiga’s patent expiry.

 

Since April of last year, 63 companies have been fiercely competing in the market after concurrently releasing their respective generic versions, and Boryung Pharmaceutical, Hanmi Pharm, Aju Pharm, Kyung Dong Pharma, and Daewon Pharmaceutical have recorded cumulative prescriptions worth more than KRW 1 billion in Q2 and Q3.

 

On the other hand, 50 (79%) of the 63 companies that released generics posted cumulative prescriptions of less than KRW 300 million.

 

Forxiga market increases from KRW 24.9 bil to KRW 35.8 bil…share of generic drugs increase to 30% According to the market research institution UBIST on the 21st, the volume of outpatient prescriptions for dapagliflozin single-agent drug and metformin combinations as of Q3 amounted to KRW 35.8 billion.

 

This is a 44% increase in one year compared to KRW 24.9 billion it had made in Q3 last year.

 

The analysis is that the large number of generics that joined the market drove the market expansion.

 

The combined prescription performance of Forxiga and Xigduo generics in Q3 amounted to KRW 10.6 billion.

 

Their share reached 30%.

 

In just half a year after the generic drugs entered in bulk, their market share has increased to 30%.

 

The generic companies have poured out products since Foxiga’s patent expiry in April.

 

A total of 90 companies have received approval for their generic versions of Forxiga and Xigduo, 63 of which have released their products.

 

The generic drugs have rapidly expanded their share in the market following their release.

 

In Q2 last year, about 60 companies accounted for 18% of the market share with a combined prescription amount of KRW 5.9 billion.

 

The companies then increased their market share to 30% in 3 months.

 

Quarterly presriptions of Forxiga and Xigduo

In particular, the penetration of generic drugs in the single-agent market is fast.

 

In Q3, the original Forxiga recorded prescription sales of KRW 13.7 billion and generic drugs of KRW 6.8 billion in cumulative sales.

 

The market share is around 33%.

 

Generics accounted for one-third of the market within half a year of launch.

 

In the case of combination drugs, original drugs recorded KRW 11.6 billion and generic drugs recorded KRW 3.8 billion.

 

The proportion of market share is 75% to 25%.

 

#SB Boryung and Hanmi’s cumulative prescriptions account for over KRW 2 billion...

 

50 out of 63 places earn less than KRW 300 million Amid fierce competition between generic companies, Boryung and Hanmi Pharmaceuticals achieved cumulative sales of more than KRW 2 billion.

 

Boryung recorded KRW 2.3 billion in Q2 and Q3 with its single-agent drug Trudapa and its Trudapa+metformin combination TrudapaM.

 

Hanmi Pharm recorded prescription sales of KRW 2.1 billion with its Dapalon and Dapalon Duo.

 

Aju Pharm, Kyung Dong Pharma, and Daewon Pharmaceutical also recorded prescriptions of over KRW 1 billion in Q2 and Q3 combined.

 

Aju posted sales of KRW 1.4 billion, Kyung Dong Pharma KRW 1.3 billion, and Daewon Pharmaceutical KRW 1.1 billion.

 

However, with so many companies entering the competition at the same time, most companies showed performance that was below expectations.

 

Among the 64 companies that released their respective products, 50 companies' cumulative prescription performance in Q2 and Q3 was less than KRW 300 million.

 

This means that 4 out of 5 (79%) distributors of Forxiga generics are having difficulties in this market.

 

The average prescription amount per generic company in Q2 and Q3 only amounted to KRW 260 million.

 

Original Forxiga and Xigduo fare well despite generic entry…prescriptions rise 2% YoY The original Forxiga and Xigduo have also achieved not bad results.

 

Rather, the total prescriptions for the two products combined amounted to KRW 25.3 billion, up 2% YoY.

 

Forxiga recorded prescription sales of KRW 13.7 billion in Q3.

 

Compared to Q3 last year (KRW 13.1 billion), prescriptions increased by 4%.

 

In the case of Xigduo, prescriptions amounted to KRW 11.6 billion.

 

No significant change has been made compared to Q3 last year (KRW 11.7 billion).

 

Industry evaluation is that the original drugs are faring well considering the aggressive expansion of generic drugs in the market.

 

AstraZeneca, the company that manufactured the original drug, had postponed the drug price reduction that was applied following the release of generics through administrative litigation.

 

AstraZeneca filed an administrative suit against the Ministry of Health and Welfare's ex officio adjustment of insurance ceiling prices because Forxiga’s indications are not only for diabetes but also for heart failure.

 

At the same time, an application for suspension of execution was filed to postpone the disposition until the conclusion of the main lawsuit.

 

The court accepted this request, and the drug price cut for Forxiga and Xigduo was postponed until February of next year.