Research Firm Predicts Negative Impact of Biosimilars - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

Research Firm Predicts Negative Impact of Biosimilars


Research and consulting firm GlobalData has released a report stating that the increase of biosimilars will have a negative impact on the biologics market after 2019. The report cites patent expirations of branded biologics and regulatory clarification as reasons for the prediction that biosimilars will capture the market share after 2019.

"There are a number of factors driving the initiative towards the global adoption of biosimilars, from austerity measures and slow economic growth in the US, to an aging population and increasing demand for healthcare in countries such as Japan.

“The savings made from choosing biosimilars over biologics are not as substantial as first anticipated, and the cost of biosimilars is expected to be around 20–30% lower than that of branded biologic therapies. This remains a significant reduction nonetheless, since many biologics command hundreds of thousands of dollars for one year’s treatment,” said Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, in a press release.

GlobalData’s report also states that while some biopharmaceutical companies are slow to enter the biosimilars market, CMOs, CROS, and multi-industry conglomerates are quicker to embrace biosimilars.

Owide observed, “The biosimilars industry is already highly lucrative. More than 100 deals involving companies focused on the development of biosimilars have been completed over the past seven years, with a total value in excess of $10.7 billion.

“In addition to private ventures, some national governments are targeting the biosimilars market to sustain their domestic pharmaceutical industries. Most significantly, South Korea announced in 2011 that it aims to create approximately 120,000 new jobs in the sector, in a bid to capture 22% of the global biosimilars market by 2020.”

Source: GlobalData

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
70%
Breakthrough designations
4%
Protecting the supply chain
17%
Expedited reviews of drug submissions
2%
More stakeholder involvement
7%
View Results
Eric Langerr Outsourcing Outlook Eric LangerRelationship-building at Top of Mind for Clients
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerRisk Reduction Top Driver for Biopharmaceutical Raw Material Development
Jill Wechsler Regulatory Watch Jill Wechsler Changes and Challenges for Generic Drugs
Faiz Kermaini Industry Insider Faiz KermainiNo Signs of a Slowdown in Mergers
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Ebola Outbreak Raises Ethical Issues
Better Comms Means a Fitter Future for Pharma, Part 2: Realizing the Benefits of Unified Communications
Better Comms Means a Fitter Future for Pharma, Part 1: Challenges and Changes

Click here