Table of Contents
Opioid Drug Market Overview
Opioid drug providers provide opioids a class of drugs used primarily for pain management, including both prescription medications and illegal substances.
They function by binding to opioid receptors in the brain and body, blocking pain signals and often producing euphoria.
Types of opioids include natural (e.g., morphine), semi-synthetic (e.g., oxycodone), and synthetic (e.g., fentanyl).
While effective for severe pain and certain medical conditions, opioids carry risks of side effects. Such as constipation and drowsiness, as well as serious issues like addiction and overdose.
Treatment for opioid addiction often involves medications like methadone and buprenorphine, along with behavioral therapy and support programs. Due to their potential for misuse, opioids are strictly regulated.
Market Drivers
Several factors, including the increasing prevalence of chronic pain conditions, an aging population, and advancements in pain management technologies, drive the global opioid drug market.
The rising number of surgical procedures and expanded healthcare access in developing regions also contribute to market growth.
Additionally, greater awareness and improved diagnostics for pain management further boost opioid use. These elements collectively support the expansion of the opioid drug market, even amidst concerns about addiction and misuse.
Market Size
The global opioids market is anticipated to increase from USD 22.2 billion in 2023 to USD 29.5 billion by 2033, with a CAGR of 2.9%.
List of Major Companies
These are the top ten providers/companies operating in the Opioid Drug Market:
- Abbott
- AbbVie
- GSK
- Sun-Pharmaceutical
- Hikma-Pharmaceuticals
- Fresenius-Kabi
- Viatris
- Pfizer
- Mallinckrodt
- Teva
Abbott
Company Overview
| Establishment Year | 1888 |
| Headquarter | Green Oaks, Illinois, U.S. |
| Key Management | Robert B. Ford (Chairman & CEO) |
| Revenue (US$ Bn) | $ 40.1 Billion (2023) |
| Headcount | ~ 114,000 (2023) |
| Website | http://abbott.com/ |
About Abbott Laboratories
Abbott Laboratories has maintained a cautious but strategic approach in the opioid drug sectors/providers, focusing primarily on developing alternatives to opioid-based pain management.
A significant aspect of this strategy includes the development and expansion of neurostimulation therapies through its Proclaim DRG system, which targets chronic pain by disrupting pain signals.
This approach is part of Abbott’s broader effort to provide alternatives to opioids in managing chronic pain, aligning with global health objectives to reduce opioid dependence.
Additionally, in recent developments, Abbott completed the acquisition of Bigfoot Biomedical, a leader in diabetes management technologies.
This further bolsters Abbott’s portfolio in digital health and chronic disease management, indirectly supporting its mission to reduce reliance on opioid medications by offering more comprehensive treatment options.
Geographical Presence
Abbott Laboratories, headquartered in Abbott Park, Illinois, has a significant global presence across key regions.
In North America, it operates extensively in the U.S. and Canada. In Europe, Abbott maintains a strong footprint in both Western and Eastern countries, including Germany, France, the UK, and Russia.
The company is prominent in Asia-Pacific, with substantial operations in China, India, Japan, and Southeast Asia.
In Latin America, Abbott’s activities span Brazil, Mexico, and other nations. Its presence in the Middle East and Africa includes markets such as South Africa and the UAE, with ongoing expansion across the continent.
This extensive geographical reach supports Abbott’s diverse healthcare portfolio and strategic market positioning.
Recent Developments
- In June 2024, Abbott Laboratories and the National Association of Community Health Centers collaborated via the Innovation Incubator program to improve access to nutritious food and enhance health outcomes.
- In September 2023, Abbott acquired Bigfoot Biomedical, a leader in smart insulin management systems for diabetes.
AbbVie
Company Overview
| Establishment Year | 2012 |
| Headquarter | North Chicago, Illinois, United States |
| Key Management | Richard A. Gonzalez (Chairman and CEO) |
| Revenue (US$ Bn) | $ 54.3 B (2023) |
| Headcount | ~ 50,000 (2023) |
| Website | http://abbvie.com/ |
About AbbVie
AbbVie has been actively involved in the opioid drug sector/providers, primarily through its Allergan unit, which faced significant litigation over the marketing of opioid medications.
Recently, AbbVie agreed to pay up to $2.37 billion to resolve thousands of lawsuits related to this issue, reflecting the company’s efforts to manage the legal challenges associated with opioid products.
Additionally, AbbVie has been focusing on expanding its portfolio in other therapeutic areas, including neuroscience and oncology.
Notably, AbbVie completed the acquisition of ImmunoGen for $10.1 billion, bringing the promising antibody-drug conjugate (ADC) ELAHERE into its portfolio, which is used in treating ovarian cancer.
Furthermore, AbbVie acquired Cerevel Therapeutics to strengthen its neuroscience pipeline, underscoring its commitment to developing innovative treatments beyond opioid-related therapies.
Geographical Presence
AbbVie Inc., headquartered in North Chicago, Illinois, USA, has a significant global presence with operations spanning multiple regions.
In North America, the company has facilities in the United States and Canada. In Europe, AbbVie operates in key countries, including the United Kingdom, Germany, France, Italy, Spain, and Switzerland.
The Asia-Pacific region is supported by its presence in Japan, China, India, and Australia. In Latin America, AbbVie has a notable footprint in Brazil, Mexico, and Argentina, while in the Middle East and Africa.
It operates in the United Arab Emirates and South Africa. This extensive geographical network underpins AbbVie’s global commercial and research activities.
Recent Developments
- In February 2024, AbbVie’s $10.1 billion acquisition of ImmunoGen enhanced its oncology pipeline with advanced treatments for solid tumors and blood cancers.
- In December 2023, AbbVie acquired Cerevel Therapeutics, gaining a strong neuroscience pipeline with promising candidates for schizophrenia, Parkinson’s disease, and mood disorders.
GSK
Company Overview
| Establishment Year | 2000 |
| Headquarter | London, England, UK |
| Key Management | Emma Walmsley (CEO) |
| Revenue (US$ Bn) | $ 37.7 Billion (2022) |
| Headcount | ~ 70,000 (2024) |
| Website | https://www.gsk.com/ |
About GSK
GSK plc has had limited involvement in the opioid drug sector/providers, focusing more on other therapeutic areas such as vaccines, oncology, and respiratory conditions.
Recently, GSK has made significant strides in expanding its pipeline and product portfolio through strategic acquisitions and product developments.
In early 2024, GSK acquired Aiolos Bio, a clinical-stage biopharmaceutical company, for $1 billion upfront, adding a promising asthma treatment candidate to its respiratory pipeline.
Additionally, GSK continues to advance its oncology portfolio, including the FDA’s priority review of an expanded indication for its drug Jemperli in treating endometrial cancer.
These developments underscore GSK’s strategic focus on expanding its offerings in key therapeutic areas rather than focusing on opioid-related treatments.
Geographical Presence
GlaxoSmithKline plc (GSK) has a significant global presence, with operations spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
In North America, GSK operates extensively in the U.S. and Canada, focusing on pharmaceuticals, vaccines, and consumer healthcare.
In Europe, the company has major operations in the UK, Germany, France, and Italy, among other countries.
In the Asia-Pacific region, GSK has a strong presence in China, India, Japan, Australia, and New Zealand. Latin America is served through substantial operations in Brazil and Mexico, with additional activities across the region.
In the Middle East and Africa, South Africa is a key market, along with growing operations in other African nations.
GSK also maintains a network of global R&D and manufacturing facilities to support its extensive market reach and healthcare solutions.
Recent Development
- In April 2024, GSK announced that the FDA had accepted the sBLA for Jemperli (dostarlimab-gxly) with chemotherapy (carboplatin and paclitaxel) to extend its use to all adults with advanced or recurrent endometrial cancer.
- In January 2024, GSK agreed to acquire Aiolos, a clinical-stage biopharmaceutical company specializing in treatments for respiratory and inflammatory conditions.
Sun-Pharmaceutical
Company Overview
| Establishment Year | 1983 |
| Headquarter | Mumbai, India |
| Key Management | Dilip Shanghvi (MD) |
| Revenue (US$ Bn) | $ 5.8 Billion (2023) |
| Headcount | ~ 41,000 (2023) |
| Website | https://sunpharma.com/ |
About Sun Pharma
Sun Pharma has been involved in the opioid drug sector/providers through its generic pharmaceutical offerings, but it has recently focused more on expanding its overall portfolio through strategic acquisitions.
In 2024, Sun Pharma completed the merger with Taro Pharmaceutical Industries, a significant move valued at $347.73 million, to consolidate its position in the generic drug market.
This merger enhances Sun Pharma’s capacity to develop and market specialty generics, including pain management drugs, which may include opioid formulations. The company also acquired Libra Merger, further strengthening its generic drug capabilities.
Geographical Presence
Sun Pharma, headquartered in India, is a leading global pharmaceutical company with a substantial international footprint.
In the U.S., it has a significant presence through acquisitions like Ranbaxy and operates multiple manufacturing facilities.
In Europe, the company has expanded through strategic acquisitions and partnerships, while in Asia-Pacific, it has extended its reach to countries like China and Japan.
Sun Pharma is also growing its market share in Latin America, Africa, and the Middle East and continually explores opportunities in other emerging markets.
Its global operations are supported by advanced manufacturing and research facilities, underscoring its strategic focus on expanding its international presence.
Recent Development
- In August 2024, Sun Pharma agreed to invest US$15 million in Pharmazz.
- In August 2024, Sun Pharma and Dr Reddy’s recalled drugs in the US due to production issues.
Hikma-Pharmaceuticals
Company Overview
| Establishment Year | 1978 |
| Headquarter | London, UK |
| Key Management | Said Darwazah (CEO) |
| Revenue (US$ Bn) | $ 2.9 B (2024) |
| Headcount | ~ 8,967 (2024) |
| Website | https://www.hikma.com/ |
About Hikma Pharmaceuticals
Hikma Pharmaceuticals has been actively involved in the opioid drug sector/providers, primarily through its production of generic opioid medications.
Recently, the company agreed to a $150 million settlement to resolve numerous lawsuits in the United States related to its role in the opioid crisis.
This settlement includes $115 million in cash and $35 million worth of naloxone donations, an opioid overdose reversal drug.
Additionally, Hikma is expanding its production capabilities to address shortages in injectable opioids for U.S. hospitals despite challenges such as product recalls due to labeling issues.
The company continues to navigate the complexities of the opioid market while seeking to resolve legal disputes and enhance its product offerings.
Geographical Presence
Hikma Pharmaceuticals maintains a broad geographical presence with significant operations across key regions.
In North America, the company has a strong foothold in the U.S. and Canada, supported by extensive manufacturing and distribution networks.
In Europe, its operations include major markets such as the UK, Germany, France, and Italy. The MENA region is particularly important for Hikma, with substantial activities in Jordan, Saudi Arabia, Egypt, and the UAE.
In Asia, the company focuses on China and India, while in Latin America. It has established a presence in Brazil and Mexico.
Additionally, Hikma operates in South Africa to serve the broader African market. This global reach allows Hikma to effectively cater to diverse regional needs and enhance its market position.
Recent Developments
- In July 2024, Hikma Pharmaceuticals introduced Sodium Acetate Injection, USP, in 40 mEq per 20 mL vials in the US.
- In July 2024, Hikma Pharmaceuticals expanded the recall of a lot of Acetaminophen Injections due to possible labeling errors with Dexmedetomidine HCL Injection.
Fresenius-Kabi
Company Overview
| Establishment Year | 1912 |
| Headquarter | Bad Homburg vor der Höhe, Germany |
| Key Management | Pierluigi Antonelli (CEO) |
| Revenue (US$ Bn) | $ 8.2 Billion (2022) |
| Headcount | ~ 42,063 (2022) |
| Website | http://www.fresenius-kabi.com/ |
About Fresenius Kabi
Fresenius Kabi has been strategically involved in the opioid drug sector/providers, particularly through its production of generic opioid medications used in pain management.
The company has focused on expanding its capabilities in the broader intravenous drug and infusion therapy markets.
Recently, Fresenius Kabi completed the acquisition of Ivenix, a developer of advanced infusion pump technology, for $240 million.
This acquisition is part of the company’s Vision 2026 strategy to strengthen its position in the U.S. market and enhance its product offerings in infusion therapy.
Additionally, Fresenius Kabi has launched several generic drugs in the U.S. market, further diversifying its product portfolio.
Geographical Presence
Fresenius Kabi is a global healthcare company with a robust geographical presence. Its operations span Europe, including major hubs in Germany, France, and Italy; North America, with significant activities in the United States and Canada; South America, notably in Brazil and Argentina; and Asia-Pacific.
With substantial expansions in China, India, and Japan; and the Middle East and Africa, with key presences in Saudi Arabia and South Africa.
This extensive network supports the company’s strategy of localized production and distribution, allowing it to serve diverse markets and adapt to regional demands effectively.
Recent Developments
- In September 2023, Fresenius Kabi obtained European Commission approval for its tocilizumab biosimilar, Tyenne.
- In July 2023, Fresenius Kabi launched the biosimilar Idacio (adalimumab-aacf) in the US.
Viatris
Company Overview
| Establishment Year | 2020 |
| Headquarter | Canonsburg, Pennsylvania, U.S. |
| Key Management | Scott A. Smith (CEO) |
| Revenue (US$ Bn) | $ 15.3 Billion (2023) |
| Headcount | ~ 38,000 (2023) |
| Website | http://viatris.com/ |
About Viatris
Viatris has been involved in the opioid sector primarily through its legacy operations from Mylan, which included the production of generic opioid medications.
However, in recent years, Viatris has shifted its focus away from the opioid sector as part of a broader strategic realignment.
This shift is highlighted by several significant divestitures, including the sale of its Over-the-Counter (OTC) business and other non-core assets, to streamline its operations and focus on higher-growth areas.
In 2023, Viatris completed the acquisitions of Oyster Point Pharma and Famy Life Sciences, establishing a new Eye Care Division aimed at becoming a global leader in this space.
These moves underscore Viatris’s strategy to diversify and grow in areas with significant unmet medical needs, stepping away from its past involvement in the opioid market.
Geographical Presence
Viatris Inc. has a widespread geographical presence, operating extensively across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
In North America, it maintains a strong footprint in the U.S. and Canada, focusing on both branded and generic pharmaceuticals.
In Europe, it has significant operations in both Western and Eastern European countries. In Asia-Pacific, Viatris is active in China, India, Japan, and Australia, providing a range of healthcare products.
Latin America sees substantial engagement in Brazil, Mexico, and other countries. At the same time, in the Middle East and Africa, Viatris operates in South Africa and various other countries, aiming to improve healthcare access and market presence globally.
Recent Developments
- In July 2024, Viatris completed the sale of its Over-the-Counter (OTC) business to Cooper Consumer Health, finalizing all previously announced divestitures.
- In January 2023, Viatris completed its acquisitions of Oyster Point Pharma and Famy Life Sciences, launching a new Eye Care Division.
Pfizer
Company Overview
| Establishment Year | 1849 |
| Headquarter | New York City, U.S. |
| Key Management | Albert Bourla (CEO) |
| Revenue (US$ Bn) | $ 58.5 Billion (2023) |
| Headcount | ~ 88,000 (2023) |
| Website | http://pfizer.com/ |
About Pfizer
Pfizer’s involvement in the opioid sector has primarily focused on developing and acquiring technologies to address the misuse and abuse of opioid medications.
A significant move in this area was Pfizer’s acquisition of King Pharmaceuticals in 2010, which brought in new formulations of pain treatments designed to discourage common methods of opioid misuse.
This acquisition enhanced Pfizer’s capabilities in developing safer pain management options. More recently, Pfizer has shifted its focus towards oncology, as demonstrated by its $43 billion acquisition of Seagen Inc. in 2023.
This acquisition significantly bolsters Pfizer’s oncology portfolio with advanced antibody-drug conjugates (ADCs), positioning the company as a leader in cancer treatments.
This shift indicates Pfizer’s strategic move away from the opioid sector towards areas with higher growth potential and significant unmet medical needs.
Geographical Presence
Pfizer maintains a significant global presence with operations spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Headquartered in New York City, Pfizer has a substantial footprint in the U.S. and Canada and a robust network across Western and Eastern Europe, including major markets like Germany, the UK, and Russia.
In the Asia-Pacific region, the company has strong operations in China, India, Japan, Australia, and New Zealand.
Latin American activities are concentrated in Brazil, Mexico, Argentina, Chile, and Colombia. At the same time, in the Middle East and Africa, Pfizer is prominent in South Africa, Egypt, Nigeria, and key Middle Eastern markets.
This extensive geographical reach supports Pfizer’s global growth strategy, enabling it to address diverse healthcare needs and drive innovation.
Recent Development
- In August 2024, Pfizer released preliminary results from a Phase 3 trial of their combined mRNA vaccine for influenza and COVID-19 in healthy adults aged 18-64.
- In December 2023, Pfizer acquired Seagen, a biotech firm specializing in innovative cancer treatments.
Mallinckrodt
Company Overview
| Establishment Year | 1867 |
| Headquarter | Staines-upon-Thames, United Kingdom |
| Key Management | Siggi Olafsson (CEO) |
| Revenue (US$ Bn) | $ 1.87 Billion (2023) |
| Headcount | ~ 2,800 (2023) |
| Website | http://mallinckrodt.com/ |
About Mallinckrodt Pharmaceuticals
Mallinckrodt Pharmaceuticals has been deeply involved in the opioid drug sector/providers, primarily through its production of generic opioid medications.
However, the company has faced significant challenges due to its involvement in the opioid crisis, including extensive litigation.
In response, Mallinckrodt has gone through multiple restructuring processes, including a recent second bankruptcy filing in 2023 aimed at reducing its debt by approximately $1.9 billion.
The company has committed to making a final payment of $250 million to an opioid victims’ trust as part of its settlement efforts.
Additionally, Mallinckrodt has put its plans to spin off its specialty generics business on hold. A division heavily focused on opioid drugs, due to ongoing litigation and financial pressures.
This pause allows the company to focus on managing its significant debt and operational challenges while continuing to explore strategic options for the future.
Geographical Presence
Mallinckrodt Pharmaceuticals operates globally and has a significant presence in several key regions. In North America, the company is headquartered in the United States and is also active in Canada.
In Europe, it has operations in the United Kingdom, Germany, France, Italy, and Spain. The Asia-Pacific region includes notable markets such as China, Japan, and Australia.
In Latin America, Mallinckrodt is present in Brazil and Mexico, while in the Middle East and Africa, it operates in South Africa, Saudi Arabia, and the UAE.
This extensive geographical footprint supports the company’s comprehensive range of pharmaceutical and medical products, addressing diverse healthcare needs worldwide.
Recent Developments
- In August 2024, Mallinckrodt announced it would sell its Therakos business to CVC Capital Partners for $925 million.
Teva
Company Overview
| Establishment Year | 1901 |
| Headquarter | Tel Aviv, Israel |
| Key Management | Richard Francis (CEO) |
| Revenue (US$ Bn) | $ 15.01 Billion (2023) |
| Headcount | ~ 37,851 (2023) |
| Website | http://www.tevapharm.com/ |
About Teva Pharmaceuticals
Teva Pharmaceuticals has been heavily involved in the opioid drug sector/providers, primarily through its production of generic opioid medications.
The company recently finalized a significant nationwide settlement agreement. Which totals $4.25 billion, to resolve thousands of lawsuits related to its role in the opioid crisis in the United States.
This settlement includes a mix of cash payments and the provision of its generic version of Narcan (naloxone), a drug used to reverse opioid overdoses.
This move is part of Teva’s broader strategy to address its legal liabilities while focusing on other areas of growth.
Despite these challenges, Teva continues to be a major player in the pharmaceutical industry, with a diverse portfolio that includes both generic and specialty medicines.
Geographical Presence
Teva Pharmaceuticals Industries Ltd. operates globally and has a significant presence in various regions. In North America, it is strong in the U.S. and Canada, specializing in generics and specialty drugs.
In Europe, Teva is active in both Western and Eastern Europe, including Germany, France, and the UK. Latin America, operates in Brazil, Mexico, and other countries to enhance access to affordable medications.
In the Asia-Pacific region, Teva is established in China, India, and Australia, and in the Middle East and Africa, it focuses on expanding access to essential medicines.
This extensive global footprint supports Teva’s strategy of providing a broad range of pharmaceutical products.
Recent Developments
- In May 2024, Teva Pharmaceuticals received approval from the US FDA for AUSTEDO XR tablets.
- In November 2022, Teva Pharmaceuticals and AbbVie paid over $6.6 billion to settle numerous U.S. lawsuits over opioid marketing.
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