Novartis AG, GlaxoSmithKline plc, and AbbVie Inc., Inc. are Dominating the U.S. Tuberous Sclerosis Drugs Market in 2020

U.S. Tuberous Sclerosis Drugs Market is expected to grow with the CAGR of 22.6% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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U.S. tuberous sclerosis drugs market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario. 

The major players dealing in U.S. tuberous sclerosis drugs market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

• In May 2020, AbbVie Inc. acquired Allergan, a global company focused on manufacturing of products targeting neuroscience, urology among other medical fields. This acquisition allowed the company to enhance its therapeutic categories and strengthen the company’s financial values which ultimately accelerated the company’s research and developmental activities.

Novartis AG, is the dominating player in U.S. tuberous sclerosis drugs market. The other key players existing in the market includes GlaxoSmithKline plc, Abbvie Inc., Pfizer Inc., Janssen Pharmaceuticals, Inc (a subsidiary of Johnson & Johnson Services, Inc), Par Pharmaceutical (a subsidiary of Endo International plc), Dr Reddy’s Laboratories Ltd, Amneal Pharmaceuticals LLC, Apotex Inc, Alembic Pharmaceuticals Limited, Biopharma, GW Pharmaceuticals plc, Hikma Pharmaceuticals PLC, Lannett, Sun Pharmaceutical Industries Ltd, Viatris Inc., Teva Pharmaceutical Industries Ltd., VistaPharm, Inc., and Wockhardt USA (a subsidiary of WOCKHARDT) among others.

Novartis AG

Novartis AG headquarter is in Basal, Switzerland mainly focuses on innovating medication for various healthcare challenge. The company has two business segments including innovative medicine and sandoz. In this innovative medicine is the market focussed segment. The company has wide product portfolio such as cancer, cardiovascular, renal & metabolism, immunology & dermatology, ophthalmology, neuroscience, respiratory. The company has wide presence across Americas, Asia-Pacific, Europe, Middle East and Africa. The company also has various subsidiary companies such as Novartis Argentina S.A., Buenos Aires(Argentina), Novartis Australia Pty Ltd, Macquarie Park, NSW(Australia), Novartis Austria GmbH, Vienna(Austria), Novartis Pharma NV, Vilvoorde (Belgium), Sandoz (China) Pharmaceutical (China) among others.

• In January 2021, Novartis AG announced that they have secured second rank in the 2021 Access to Medicine Index (ATMIndex), this position remains constant for the company from 2 consecutive years in recognition of its long-standing efforts to improve worldwide access to healthcare. Novartis performed strongly across all three technical areas and was the industry leader in product delivery. This will add up as an achievement for the company and will increase the interest among investors for business expansion

GlaxoSmithKline plc

GlaxoSmithKline plc headquartered in Brentford, U.K. was founded in 1715. The company is focused to become one of the best company in the field of innovation, development of drugs and vaccines that will be beneficial to both patient and consumers. The company works on 3 business segment Pharmaceuticals, Vaccines, and Consumer Healthcare among which Pharmaceuticals is the market segment. The company has wide product portfolio including Prescription Medicines, Vaccines, Consumer Healthcare Products, ViiVHealthcare and Stiefel Dermatology, in which pharmaceuticals is the market focused category. The company has presence in Middle East and Africa, Asia-Pacific, Europe, Americas and the company has its subsidiary around the global such as GlaxoSmithKline Pharmaceuticals Ltd (India), Tesaro (U.S.),GlaxoSmithKline Pakistan (Pakistan), Stiefel Laboratories (U.S.), Allen & Hanburys (U.K.), among others.

AbbVie Inc.

AbbVie Inc., headquartered in Illinois, U.S. was founded in 2013. The company is a research- driven Biopharmaceutical Company having a great focus on treating diseases in order to make a remarkable impact on people's lives. The company is engaged in providing wide range of product categories such as Immunology, Neuroscience, Oncology, Virology, General Medicine in which Neuroscience is the market focused product category. The company is present in Africa, Asia-Pacific, Europe, Latin America, Middle East, Americas. The company has several owned subsidiaries involving Abbott Endocrine Inc. (Delaware), Knoll Pharmaceutical Company (New Jersey), AbbVie S.A.(Argentina), AbbVie Pty Ltd (Australia), AbbVie SA(Belgium), AbbVie SAS (Colombia) Colombia among others.

• In December 2019, AbbVie Inc. collaborated with Scripps Research in order to boost up the research for new drug discovery targeting a range of diseases including areas on oncology, neuroscience, and immunology among others. As per the collaboration agreement, Scripps Research will conduct the pre-clinical research activities for development of novel therapies. This collaboration helped the company to advance up its novel medicines for patients that has ultimately boosted company’s revenue.