AMSTERDAM--(BUSINESS WIRE)-- Genmed Holding Corp. (OTCBB: GENM) is preparing for many of the blockbuster branded pharmaceuticals that will go off-patent in 2011 and 2012. According to a brief published by the United States’ Office of the Assistant Secretary for Planning and Evaluation (ASPE), more than $209 billion in annual branded drug sales are projected to go off-patent between 2011 and 2014. Big name drugs projected to go off-patent include Advair, Viagra, Seroquel, Zyprexa, Symbicort, Singulair, and Lexapro.
Global projections for the international generic market are estimated to reach between $135 billion and $150 billion by 2015. BCC Research estimates the global market to reach $129.3 billion by 2014, representing a 9% annual growth rate. Goldman-Sachs Global Investment Research estimates that big names in the innovator drug market may lose up to 49% of their business to generic pharmaceutical companies by 2015.
GenMed Chief Executive Officer, Erwin Bouwens, said, “The coming decade will be a period of aggressive growth for companies positioned in the generic pharmaceuticals market. We plan to take full advantage of the opportunities to apply for additional drug licenses as they become available. We are currently working with our manufacturing and distribution partners to determine which product licenses will make the most strategic sense for us.”
About Genmed Holding Corp.
Genmed Holding Corp. is a United States and Dutch based company focusing on the delivery of low cost generic pharmaceutical drugs directly to distribution channels throughout the world. The Company began its generic drug business in 2008 and today operates primarily through its 100% owned subsidiary Genmed B.V., which is registered in the Netherlands. The Company is led by an experienced management team and board who have considerable and highly relevant experience in product development, registration, sales, marketing, distribution, operations, and financial administration.
For Additional Information, Go to the Website: www.genmed.nl
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
CONTACT:
Genmed Holding Corp.
Randy Hibma, 031 793 630 129
[email protected]
KEYWORDS: United States Europe North America Netherlands California
INDUSTRY KEYWORDS: Health Pharmaceutical Professional Services Finance
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