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Global Biosimilars Market to Reach US$4.8 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

Biopharmaceutical market in World
Industry news
PR Web
1 day ago
San Jose, CA (Vocus/PRWEB) February 14, 2011 Biosimilars have remained a controversial subject in the global pharmaceutical industry, and continue to remain so even in the current environment. However, with the sector promising significant cost savings to the industry, several major markets are welcoming biosimilar legislations for the development of biosimilars. Consequently, biosimilars are expected to grow into a multi-billion dollar market in future. The already expired patents of biologics, such as Epogen, Neupogen and Enbrel, and the near term patent expiry of the currently leading biologics, such as Herceptin and Avastin, would help the global biosimilars market gain traction and expand wings across the globe. The absence of widespread legislations for biosimilars is primarily due to the complexity of biological drugs, as compared to the small molecule drugs. Production of biosimilars is also marred with huge technological investments and other clinical entry barriers, which is not the case with generic copies of small molecule drugs. The high-cost and complex technology involved in the production of biosimilars also restricts biosimilar companies from offering huge price discounts. As a result, a well-established regulatory framework, as seen in most countries for the approval of small molecule generics, is conspicuously absent in case of biosimilars, except in Europe and Japan, and recently in the US. The regulatory agencies, across the rest of world, have been adopting...

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