Our aim is that health care is not a privilege. Our actions are focused on patients and their possibilities to access new treatments.
Consequently, we focused on launching the first generic drug and biosimilar products, develop products enabling treatment adherence and providing innovative therapies through licenses. Thus, our actions contribute to balancing health care costs.
A generic drug is interchangeable with the original product because it has the same active ingredient, the same route of administration, the same pharmaceutical form and the same behavior. In other words, it is identical to the original drug in terms of safety and efficacy, it behaves in the same manner and has the same indication. Like the original product, generic drugs must comply with the same standards of quality and control during production. The competent National Health Authority is the body determining the product final approval before authorizing the product sale in the market.
The existence of generic drugs opens the possibility for competition, thus reducing the cost of the pharmaceutical products in the market and therefore making the access to medication easier to the whole of the population. Additionally, a generic drug exerts a control power to prevent monopolistic practices. In this way, innovative laboratories are pushed to perform new research. If innovative laboratories kept their exclusive rights over their patents indefinitely, they would not need to make Research and Development efforts to remain in the market.
A biosimilar product is a product with a similar biotechnological origin in terms of quality, efficacy and safety to the innovative reference product, whose patents expired.
Biosimilar products are manufactured complying with the same standards of control and quality as the rest of the pharmaceutical products, according to the regulations established by the health authorities. Due to their complexity and biological variability they are stringently evaluated using detailed physico-chemical, biological, preclinical and clinical tests and studies. In this way it is possible to determine that they are highly similar to the originator in terms of composition, structure, purity and activity which ensures safety and efficacy.
At the same time, the new manufacturing methods used allow these products to reach the market at substantially lower prices, with the consequent treatment cost reduction which guarantees access to a higher number of patients.
Richmond Labs embarked on an ambitious project involving biosimilar biotechnological products. Our structure is already developing a number of monoclonal antibodies for the treatment of oncologic and autoimmune diseases.
A treatment is effective not only because of the quality of the medication but also because of the adherence to the treatment, that is, if the patient takes the medication as prescribed. On many occasions this is not achieved due to the difficulties caused to the patient (for example, when a treatment requires multiple tablets taken at different times).
Richmond’s focus is the patient; therefore, we develop products and alternatives which ease the access to the treatment.
Some examples are single fixed dose combinations (Trivenz®), combinations with fixed dose as a part of a treatment (Virontar® N) and multi-dose tablets (Mystika®). In most of the cases a user-friendly packaging was designed to transport the medication and take it when needed, thus ensuring quality.
Renowned European pharmaceutical companies, owners of original pharmaceutical products granted Laboratorios Richmond licenses to sell their products exclusively in Argentina. These are innovative and unique treatments which boost our company’s portfolio.