Cinfa acquires 23.7% share of Spanish generics market

Spanish pharmaceutical producer Cinfa has now acquired a national generics market share of 23.7% in unit terms, according to February data from IMS Health. Cinfa says this places it as the leading Spanish drugmaker by volume or fourth when foreign-owned drug companies are included. It closed 2007 with sales up 25.2% to 143.0 million euros ($225.0 million). The figure was significant after last year's average generics price cut of 15% and compared well with overall market growth of 21.7%. Sales in 2008 are expected to exceed 177.0 million euros in a year when the generics market is expected to slow down.