Branded drugs with pharma labels are likely to struggle in the coming years as generic pharmaceuticals corner a larger share of the market.

This is according to industry intelligence provider IMS Health, which claimed that cheaper medicines are likely to produce $98 billion (£60 billion) in net savings to insurers in developed nations over the next four years, reports Reuters.

Murray Aitkin, an executive with the organisation whose division conducted the study, commented: "There are unprecedented dynamics at play, which are driving rapid shifts in the mix of spending by patients and payers between branded products and generics."

The report indicates that branded items with pharmaceutical labels are not likely to experience significant growth in the coming years, but that the expansion of the industry is likely to be driven by growth in the market for generic products.

This comes after an official at IQPC Middle East, Doaa Said, claimed that India is set to become one of the world's top pharmaceutical hubs in the future.

Denny Bros Ltd, 18 May 2011