Generics: Global Industry Guide

Generics: Global Industry Guide

Datamonitor's Generics: Global Industry Guide is an essential resource for top-level data and analysis covering the generics industry. It includes detailed data on market size and segmentation, textual analysis of the key trends and competitive landscape, and profiles of the leading companies. This incisive report provides expert analysis on a global, regional and country basis.

Scope of the Report

* Contains an executive summary and data on value, volume and segmentation

* Provides textual analysis of the industry's prospects, competitive landscape and profiles of the leading companies

* Covers the Global, European and Asia-Pacific markets as well as individual chapters on 5 major markets (France, Germany, Japan, the UK and the US).

* Includes a five-year forecast of the industry

Highlights

The global generics market grew by 14.2% in 2006 to reach a value of $92.7 billion.

In 2011, the market is forecast to have a value of $155.7 billion, an increase of 68% since 2006.

The ethical generic segment generates 76.8% of the global market's aggregate value.

Americas accounts for 41.9% of the global market's total value

Why you should buy this report

* Spot future trends and developments

* Inform your business decisions

* Add weight to presentations and marketing materials

* Save time carrying out entry-level research

Market Definition

The value of the generics market consists of all sales of generics drugs at ex-manufacturers prices. The market does not include animal healthcare products. Datamonitor defines a generic as a product, which is an officially approved copy of an original product whose patent has expired, marketed either as a brand or using the generic name. This definition excludes multi-source copy products that make up much of markets such as India, Spain and Italy. All currency conversions have been calculated at constant 2006 average exchange rates.

For the purpose of this report the Americas comprises Brazil, Canada, Mexico and the US.

Europe comprises Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden and the UK.

Asia-Pacific comprises Australia, China, Japan, India, Singapore, South Korea and Taiwan.

The global figure comprises the Americas, Asia-Pacific and Europe.

Table of Contents
CHAPTER 1 Introduction 22
1.1 What is this report about? 22
1.2 Who is the target reader? 22
1.3 How to use this report 22
1.4 Definitions 23
CHAPTER 2 Global Generics 24
2.1 Market Overview 24
2.2 Market Value 25
2.3 Market Segmentation I 26
2.4 Market Segmentation II 27
2.5 Five Forces Analysis 28
2.6 Market Forecasts 34
CHAPTER 3 Generics in Asia-Pacific 35
3.1 Market Overview 35
3.2 Market Value 36
3.3 Market Segmentation I 37
3.4 Market Segmentation II 38
3.5 Five Forces Analysis 39
3.6 Market Forecasts 45
CHAPTER 4 Generics in Europe 46
4.1 Market Overview 46
4.2 Market Value 47
4.3 Market Segmentation I 48
4.4 Market Segmentation II 49
4.5 Five Forces Analysis 50
4.6 Market Forecasts 55
4.7 Macroeconomic Indicators 56
CHAPTER 5 Generics in Belgium 57
5.1 Market Overview 57
5.2 Market Value 58
5.3 Market Segmentation I 59
5.4 Market Segmentation II 60
5.5 Five Forces Analysis 61
5.6 Market Forecasts 66
5.7 Macroeconomic Indicators 67
CHAPTER 6 Generics in Canada 68
6.1 Market Overview 68
6.2 Market Value 69
6.3 Market Segmentation I 70
6.4 Market Segmentation II 71
6.5 Five Forces Analysis 72
6.6 Market Forecasts 77
6.7 Macroeconomic Indicators 78
CHAPTER 7 Generics in China 80
7.1 Market Overview 80
7.2 Market Value 81
7.3 Market Segmentation I 82
7.4 Market Segmentation II 83
7.5 Five Forces Analysis 84
7.6 Market Forecasts 89
7.7 Macroeconomic Indicators 90
CHAPTER 8 Generics in France 92
8.1 Market Overview 92
8.2 Market Value 94
8.3 Market Segmentation I 95
8.4 Market Segmentation II 96
8.5 Five Forces Analysis 97
8.6 Forecasts 102
8.7 Macroeconomic Indicators 103
CHAPTER 9 Generics in Germany 105
9.1 Market Overview 105
9.2 Market Value 106
9.3 ket Segmentation I 107
9.4 Market Segmentation II 108
9.5 Five Forces analysis 109
9.6 Market Forecasts 114
9.7 Macroeconomic Indicators 115
CHAPTER 10 Generics in Italy 117
10.1 Market Overview 117
10.2 Market Value 118
10.3 Market Segmentation I 119
10.4 Market Segmentation II 120
10.5 Five Forces Analysis 121
10.6 Market Forecasts 126
10.7 Macroeconomic Indicators 127
CHAPTER 11 Generics in Japan 129
11.1 Market Overview 129
11.2 Market Value 130
11.3 Market Segmentation I 131
11.4 Market Segmentation II 132
11.5 Five Forces Analysis 133
11.6 Market Forecasts 138
11.7 Macroeconomic Indicators 139
CHAPTER 12 Generics in the Netherlands 140
12.1 Market Overview 140
12.2 Market Value 141
12.3 Market Segmentation I 142
12.4 Market Segmentation II 143
12.5 Five Forces Analysis 144
12.6 Market Forecasts 149
12.7 Macroeconomic Indicators 150
CHAPTER 13 Generics in Spain 151
13.1 Market Overview 151
13.2 Market Value 152
13.3 Market Segmentation I 153
13.4 Market Segmentation II 154
13.5 Five Forces Analysis 155
13.6 Market Forecasts 160
13.7 Macroeconomic Indicators 161
CHAPTER 14 Generics in the United Kingdom 163
14.1 Market Overview 163
14.2 Market Value 164
14.3 Market Segmentation I 165
14.4 Market Segmentation II 166
14.5 Five Forces Analysis 167
14.6 Market Forecasts 172
14.7 Macroeconomic Indicators 173
CHAPTER 15 Generics in the United States 175
15.1 Market Overview 175
15.2 Market Value 176
15.3 Market Segmentation I 177
15.4 Market Segmentation II 178
15.5 Five forces analysis 179
15.6 Market Forecasts 184
15.7 Macroeconomic Indicators 185
CHAPTER 16 Company Profiles 186
16.1 Leading Companies 186
CHAPTER 17 Appendix 194


List of Tables
Table 1: Global Generics Market Value: $ billion, 2002-2006 25
Table 2: Global Generics Market Segmentation I: % Share, by Value, 2006 26
Table 3: Global Generics Market Segmentation II: % Share, by Value, 2006 27
Table 4: Global Generics Market Value Forecast: $ billion, 2006-2011 34
Table 5: Asia-Pacific Generics Market Value: $ billion, 2002-2006 36
Table 6: Asia-Pacific Generics Market Segmentation I: % Share, by Value, 2006 37
Table 7: Asia-Pacific Generics Market Segmentation II: % Share, by Value, 2006 38
Table 8: Asia-Pacific Generics Market Value Forecast: $ billion, 2006-2011 45
Table 9: Europe Generics Market Value: $ billion, 2002-2006 47
Table 10: Europe Generics Market Segmentation I: % Share, by Value, 2006 48
Table 11: Europe Generics Market Segmentation II: % Share, by Value, 2006 49
Table 12: Europe Generics Market Value Forecast: $ billion, 2006-2011 55
Table 13: Europe Exchange Rate, 2002-2006 56
Table 14: Belgium Generics Market Value: $ million, 2002-2006 58
Table 15: Belgium Generics Market Segmentation I: % Share, by Value, 2006 59
Table 16: Belgium Generics Market Segmentation II: % Share, by Value, 2006 60
Table 17: Belgium Generics Market Value Forecast: $ million, 2006-2011 66
Table 18: Belgium Size of Population (million) , 2002-2006 67
Table 19: Belgium GDP (1995=100), 2002-2006 67
Table 20: Belgium Exchange Rate, 2002-2006 67
Table 21: Canada Generics Market Value: $ million, 2002-2006 69
Table 22: Canada Generics Market Segmentation I: % Share, by Value, 2006 70
Table 23: Canada Generics Market Segmentation II: % Share, by Value, 2006 71
Table 24: Canada Generics Market Value Forecast: $ million, 2006-2011 77
Table 25: Canada Size of Population (million) , 2002-2006 78
Table 26: Canada GDP (1995=100), 2002-2006 78
Table 27: Canada Inflation, 2002-2006 78
Table 28: Canada Exchange Rate, 2002-2006 79
Table 29: China Generics Market Value: $ billion, 2002-2006 81
Table 30: China Generics Market Segmentation I: % Share, by Value, 2006 82
Table 31: China Generics Market Segmentation II: % Share, by Value, 2006 83
Table 32: China Generics Market Value Forecast: $ billion, 2006-2011 89
Table 33: China Size of Population (million) , 2002-2006 90
Table 34: China GDP (1995=100), 2002-2006 90
Table 35: China Inflation, 2002-2006 90
Table 36: China Exchange Rate, 2002-2006 91
Table 37: France Generics Market Value: $ billion, 2002-2006 94
Table 38: France Generics Market Segmentation I: % Share, by Value, 2006 95
Table 39: France Generics Market Segmentation II: % Share, by Value, 2006 96
Table 40: France Generics Market Value Forecast: $ billion, 2006-2011 102
Table 41: France Size of Population (million) , 2002-2006 103
Table 42: France GDP (1995=100), 2002-2006 103
Table 43: France Inflation, 2002-2006 103
Table 44: France Exchange Rate, 2002-2006 104
Table 45: Germany Generics Market Value: $ billion, 2002-2006 106
Table 46: Germany Generics Market Segmentation I: % Share, by Value, 2006 107
Table 47: Germany Generics Market Segmentation II: % Share, by Value, 2006 108
Table 48: Germany Generics Market Value Forecast: $ billion, 2006-2011 114
Table 49: Germany Size of Population (million) , 2002-2006 115
Table 50: Germany GDP (1995=100), 2002-2006 115
Table 51: Germany Inflation, 2002-2006 115
Table 52: Germany Exchange Rate, 2002-2006 116
Table 53: Italy Generics Market Value: $ million, 2002-2006 118
Table 54: Italy Generics Market Segmentation I: % Share, by Value, 2006 119
Table 55: Italy Generics Market Segmentation II: % Share, by Value, 2006 120
Table 56: Italy Generics Market Value Forecast: $ million, 2006-2011 126
Table 57: Italy Size of Population (million) , 2002-2006 127
Table 58: Italy GDP (1995=100), 2002-2006 127
Table 59: Italy Inflation, 2002-2006 127
Table 60: Italy Exchange Rate, 2002-2006 128
Table 61: Japan Generics Market Value: $ billion, 2002-2006 130
Table 62: Japan Generics Market Segmentation I: % Share, by Value, 2006 131
Table 63: Japan Generics Market Segmentation II: % Share, by Value, 2006 132
Table 64: Japan Generics Market Value Forecast: $ billion, 2006-2011 138
Table 65: Japan Size of Population (million) , 2002-2006 139
Table 66: Japan GDP (1995=100), 2002-2006 139
Table 67: Japan Exchange Rate, 2002-2006 139
Table 68: Netherlands Generics Market Value: $ million, 2002-2006 141
Table 69: Netherlands Generics Market Segmentation I: % Share, by Value, 2006 142
Table 70: Netherlands Generics Market Segmentation II: % Share, by Value, 2006 143
Table 71: Netherlands Generics Market Value Forecast: $ million, 2006-2011 149
Table 72: Netherlands Size of Population (million) , 2002-2006 150
Table 73: Netherlands GDP (1995=100), 2002-2006 150
Table 74: Netherlands Exchange Rate, 2002-2006 150
Table 75: Spain Generics Market Value: $ million, 2002-2006 152
Table 76: Spain Generics Market Segmentation I: % Share, by Value, 2006 153
Table 77: Spain Generics Market Segmentation II: % Share, by Value, 2006 154
Table 78: Spain Generics Market Value Forecast: $ million, 2006-2011 160
Table 79: Spain Size of Population (million) , 2002-2006 161
Table 80: Spain GDP (1995=100), 2002-2006 161
Table 81: Spain Inflation, 2002-2006 161
Table 82: Spain Exchange Rate, 2002-2006 162
Table 83: United Kingdom Generics Market Value: $ billion, 2002-2006 164
Table 84: United Kingdom Generics Market Segmentation I: % Share, by Value, 2006 165
Table 85: United Kingdom Generics Market Segmentation II: % Share, by Value, 2006 166
Table 86: United Kingdom Generics Market Value Forecast: $ billion, 2006-2011 172
Table 87: United Kingdom Size of Population (million) , 2002-2006 173
Table 88: United Kingdom GDP (1995=100), 2002-2006 173
Table 89: United Kingdom Inflation, 2002-2006 173
Table 90: United Kingdom Exchange Rate, 2002-2006 174
Table 91: United States Generics Market Value: $ billion, 2002-2006 176
Table 92: United States Generics Market Segmentation I: % Share, by Value, 2006 177
Table 93: United States Generics Market Segmentation II: % Share, by Value, 2006 178
Table 94: United States Generics Market Value Forecast: $ billion, 2006-2011 184
Table 95: United States Size of Population (million) , 2002-2006 185
Table 96: United States GDP (1995=100), 2002-2006 185
Table 97: United States Inflation, 2002-2006 185
Table 98: Key Facts: Teva Pharmaceutical Industries 186
Table 99: Key Financials: Teva Pharmaceutical Industries 190
Table 100: Key Facts: Merck KGaA 191
Table 101: Key Financials: Merck KGaA 192
Table 102: Key Facts: Sandoz GmbH 193


List of Figures
Figure 1: Global Generics Market Value: $ billion, 2002-2006 25
Figure 2: Global Generics Market Segmentation I: % Share, by Value, 2006 26
Figure 3: Global Generics Market Segmentation II: % Share, by Value, 2006 27
Figure 4: Drivers of Buyer Power in the Global Generics Market, 2006 28
Figure 5: Drivers of Supplier Power in the Global Generics Market, 2006 29
Figure 6: Factors Influencing the Likelihood of New Entrants in the Global Generics Market, 2006 30
Figure 7: Factors Influencing the Threat of Substitutes in the Global Generics Market, 2006 32
Figure 8: Factors Influencing Degree of Rivalry in the Global Generics Market, 2006 33
Figure 9: Global Generics Market Value Forecast: $ billion, 2006-2011 34
Figure 10: Asia-Pacific Generics Market Value: $ billion, 2002-2006 36
Figure 11: Asia-Pacific Generics Market Segmentation I: % Share, by Value, 2006 37
Figure 12: Asia-Pacific Generics Market Segmentation II: % Share, by Value, 2006 38
Figure 13: Drivers of Buyer Power in the Generics Market in Asia-Pacific, 2006 39
Figure 14: Drivers of Supplier Power in the Generics Market in Asia-Pacific, 2006 40
Figure 15: Factors Influencing the Likelihood of New Entrants in the Generics Market in Asia-Pacific, 2006 41
Figure 16: Factors Influencing the Threat of Substitutes in the Generics Market in Asia-Pacific, 2006 43
Figure 17: Factors Influencing Degree of Rivalry in the Generics Market in Asia-Pacific, 2006 44
Figure 18: Asia-Pacific Generics Market Value Forecast: $ billion, 2006-2011 45
Figure 19: Europe Generics Market Value: $ billion, 2002-2006 47
Figure 20: Europe Generics Market Segmentation I: % Share, by Value, 2006 48
Figure 21: Europe Generics Market Segmentation II: % Share, by Value, 2006 49
Figure 22: Drivers of Buyer Power in the Generics Market in Europe, 2006 50
Figure 23: Drivers of Supplier Power in the Generics Market in Europe, 2006 51
Figure 24: Factors Influencing the Likelihood of New Entrants in the Generics Market in Europe, 2006 52
Figure 25: Factors Influencing the Threat of Substitutes in the Generics Market in Europe, 2006 53
Figure 26: Factors Influencing Degree of Rivalry in the Generics Market in Europe, 2006 54
Figure 27: Europe Generics Market Value Forecast: $ billion, 2006-2011 55
Figure 28: Belgium Generics Market Value: $ million, 2002-2006 58
Figure 29: Belgium Generics Market Segmentation I: % Share, by Value, 2006 59
Figure 30: Belgium Generics Market Segmentation II: % Share, by Value, 2006 60
Figure 31: Drivers of Buyer Power in the Generics Market in Belgium, 2006 61
Figure 32: Drivers of Supplier Power in the Generics Market in Belgium, 2006 62
Figure 33: Factors Influencing the Likelihood of New Entrants in the Generics Market in Belgium, 2006 63
Figure 34: Factors Influencing the Threat of Substitutes in the Generics Market in Belgium, 2006 64
Figure 35: Factors Influencing Degree of Rivalry in the Generics Market in Belgium, 2006 65
Figure 36: Belgium Generics Market Value Forecast: $ million, 2006-2011 66
Figure 37: Canada Generics Market Value: $ million, 2002-2006 69
Figure 38: Canada Generics Market Segmentation I: % Share, by Value, 2006 70
Figure 39: Canada Generics Market Segmentation II: % Share, by Value, 2006 71
Figure 40: Drivers of Buyer Power in the Generics Market in Canada, 2006 72
Figure 41: Drivers of Supplier Power in the Generics Market in Canada, 2006 73
Figure 42: Factors Influencing the Likelihood of New Entrants in the Generics Market in Canada, 2006 74
Figure 43: Factors Influencing the Threat of Substitutes in the Generics Market in Canada, 2006 75
Figure 44: Factors Influencing Degree of Rivalry in the Generics Market in Canada, 2006 76
Figure 45: Canada Generics Market Value Forecast: $ million, 2006-2011 77
Figure 46: China Generics Market Value: $ billion, 2002-2006 81
Figure 47: China Generics Market Segmentation I: % Share, by Value, 2006 82
Figure 48: China Generics Market Segmentation II: % Share, by Value, 2006 83
Figure 49: Drivers of Buyer Power in the Generics Market in China, 2006 84
Figure 50: Drivers of Supplier Power in the Generics Market in China, 2006 85
Figure 51: Factors Influencing the Likelihood of New Entrants in the Generics Market in China, 2006 86
Figure 52: Factors Influencing the Threat of Substitutes in the Generics Market in China, 2006 87
Figure 53: Factors Influencing Degree of Rivalry in the Generics Market in China, 2006 88
Figure 54: China Generics Market Value Forecast: $ billion, 2006-2011 89
Figure 55: France Generics Market Value: $ billion, 2002-2006 94
Figure 56: France Generics Market Segmentation I: % Share, by Value, 2006 95
Figure 57: France Generics Market Segmentation II: % Share, by Value, 2006 96
Figure 58: Drivers of Buyer Power in the Generics Market in France, 2006 97
Figure 59: Drivers of Supplier Power in the Generics Market in France, 2006 98
Figure 60: Factors Influencing the Likelihood of New Entrants in the Generics Market in France, 2006 99
Figure 61: Factors Influencing the Threat of Substitutes in the Generics Market in France, 2006 100
Figure 62: Factors Influencing Degree of Rivalry in the Generics Market in France, 2006 101
Figure 63: France Generics Market Value Forecast: $ billion, 2006-2011 102
Figure 64: Germany Generics Market Value: $ billion, 2002-2006 106
Figure 65: Germany Generics Market Segmentation I: % Share, by Value, 2006 107
Figure 66: Germany Generics Market Segmentation II: % Share, by Value, 2006 108
Figure 67: Drivers of Buyer Power in the Generics Market in Germany, 2006 109
Figure 68: Drivers of Supplier Power in the Generics Market in Germany, 2006 110
Figure 69: Factors Influencing the Likelihood of New Entrants in the Generics Market in Germany, 2006 111
Figure 70: Factors Influencing the Threat of Substitutes in the Generics Market in Germany, 2006 112
Figure 71: Factors Influencing Degree of Rivalry in the Generics Market in Germany, 2006 113
Figure 72: Germany Generics Market Value Forecast: $ billion, 2006-2011 114
Figure 73: Italy Generics Market Value: $ million, 2002-2006 118
Figure 74: Italy Generics Market Segmentation I: % Share, by Value, 2006 119
Figure 75: Italy Generics Market Segmentation II: % Share, by Value, 2006 120
Figure 76: Factors Influencing Degree of Rivalry in the Generics Market in Italy, 2006 121
Figure 77: Drivers of Supplier Power in the Generics Market in Italy, 2006 122
Figure 78: Factors Influencing the Likelihood of New Entrants in the Generics Market in Italy, 2006 123
Figure 79: Factors Influencing the Threat of Substitutes in the Generics Market in Italy, 2006 124
Figure 80: Factors Influencing Degree of Rivalry in the Generics Market in Italy, 2006 125
Figure 81: Italy Generics Market Value Forecast: $ million, 2006-2011 126
Figure 82: Japan Generics Market Value: $ billion, 2002-2006 130
Figure 83: Japan Generics Market Segmentation I: % Share, by Value, 2006 131
Figure 84: Japan Generics Market Segmentation II: % Share, by Value, 2006 132
Figure 85: Drivers of Buyer Power in the Generics Market in Japan, 2006 133
Figure 86: Drivers of Supplier Power in the Generics Market in Japan, 2006 134
Figure 87: Factors Influencing the Likelihood of New Entrants in the Generics Market in Japan, 2006 135
Figure 88: Factors Influencing the Threat of Substitutes in the Generics Market in Japan, 2006 136
Figure 89: Factors Influencing Degree of Rivalry in the Generics Market in Japan, 2006 137
Figure 90: Japan Generics Market Value Forecast: $ billion, 2006-2011 138
Figure 91: Netherlands Generics Market Value: $ million, 2002-2006 141
Figure 92: Netherlands Generics Market Segmentation I: % Share, by Value, 2006 142
Figure 93: Netherlands Generics Market Segmentation II: % Share, by Value, 2006 143
Figure 94: Drivers of Buyer Power in the Generics Market in the Netherlands, 2006 144
Figure 95: Drivers of Supplier Power in the Generics Market in the Netherlands, 2006 145
Figure 96: Drivers of Supplier Power in the Generics Market in the Netherlands, 2006 146
Figure 97: Factors Influencing the Threat of Substitutes in the Generics Market in the Netherlands, 2006 147
Figure 98: Factors Influencing Degree of Rivalry in the Generics Market in the Netherlands, 2006 148
Figure 99: Netherlands Generics Market Value Forecast: $ million, 2006-2011 149
Figure 100: Spain Generics Market Value: $ million, 2002-2006 152
Figure 101: Spain Generics Market Segmentation I: % Share, by Value, 2006 153
Figure 102: Spain Generics Market Segmentation II: % Share, by Value, 2006 154
Figure 103: Drivers of Buyer Power in the Generics Market in Spain, 2006 155
Figure 104: Drivers of Supplier Power in the Generics Market in Spain, 2006 156
Figure 105: Factors Influencing the Likelihood of New Entrants in the Generics Market in Spain, 2006 157
Figure 106: Factors Influencing the Threat of Substitutes in the Generics Market in Spain, 2006 158
Figure 107: Factors Influencing Degree of Rivalry in the Generics Market in Spain, 2006 159
Figure 108: Spain Generics Market Value Forecast: $ million, 2006-2011 160
Figure 109: United Kingdom Generics Market Value: $ billion, 2002-2006 164
Figure 110: United Kingdom Generics Market Segmentation I: % Share, by Value, 2006 165
Figure 111: United Kingdom Generics Market Segmentation II: % Share, by Value, 2006 166
Figure 112: Drivers of Buyer Power in the Generics Market in the United Kingdom, 2006 167
Figure 113: Drivers of Supplier Power in the Generics Market in the United Kingdom, 2006 168
Figure 114: Factors Influencing the Likelihood of New Entrants in the Generics Market in the United Kingdom, 2006 169
Figure 115: Factors Influencing the Threat of Substitutes in the Generics Market in the United Kingdom, 2006 170
Figure 116: Factors Influencing Degree of Rivalry in the Generics Market in the United Kingdom, 2006 171
Figure 117: United Kingdom Generics Market Value Forecast: $ billion, 2006-2011 172
Figure 118: United States Generics Market Value: $ billion, 2002-2006 176
Figure 119: United States Generics Market Segmentation I: % Share, by Value, 2006 177
Figure 120: United States Generics Market Segmentation II: % Share, by Value, 2006 178
Figure 121: Drivers of Buyer Power in the Generics Market in the United States, 2006 179
Figure 122: Drivers of Supplier Power in the Generics Market in the United States, 2006 180
Figure 123: Factors Influencing the Likelihood of New Entrants in the Generics Market in the United States, 2006 181
Figure 124: Factors Influencing the Threat of Substitutes in the Generics Market in the United States, 2006 182
Figure 125: Factors Influencing Degree of Rivalry in the Generics Market in the United States, 2006 183
Figure 126: United States Generics Market Value Forecast: $ billion, 2006-2011 184
Figure 127: Revenues &Profitability: Teva Pharmaceutical Industries 190
Figure 128: Revenues &Profitability : Merck KGaA 192