Biotech Values

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On the other hand, the overall market for EPO drugs (including knockoffs and bona fide biosimilars) is clearly large enough to be an attractive target for companies such as FGEN.

See https://www.grandviewresearch.com/industry-analysis/erythropoietin-epo-drugs-market

The global erythropoietin (EPO) drugs market size was valued at USD 7.4 billion in 2016 and is expected to witness CAGR of 11.5% during the forecast period. Increasing incidence of chronic diseases such as end-stage renal diseases, cancer, and HIV is expected to accelerate demand for EPO-stimulating agents as these diseases may cause anemia. To curb rising incidence of anemia, demand for erythropoietin drugs is expected to increase over the coming years.

One of the major reasons for anemia is Chronic Kidney Diseases (CKD). Rising incidence of CKD is the key contributing factor responsible for the growing demand. According to statistics published by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), approximately 661,000 people are affected by kidney failures in the U.S. and the number is projected to increase in the near future. This is anticipated to fuel the demand for the market further.