[Editorial] Generic drugs: are they the future for affordable medicine?

Teva Pharmaceutical Industries—the largest manufacturer of generic drugs in the world—is in trouble. This multinational company, which produces a large portfolio of generics—including several widely used oncology agents such as cisplatin, docetaxel, letrozole, and gemcitabine—has announced it will be cutting 14 000 jobs (almost a quarter of its global workforce) in attempts to salvage its ailing business. The move is a drastic response to Teva's financial woes: in 2017, the company lost more than US$20 billion from its market value, its US profits tumbled by 60%, and it is currently saddled with debts of $35 billion.

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