Biosimilars Set to Revolutionize Global Drug Development Industry with More Than 700 Therapies in Pipelines
PHILADELPHIA, PA, UNITED STATES - Sep 29, 2014 - The Intellectual Property and Science business of Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the release of Biosimilars: A Global Perspective of a New Market - Opportunities, Threats and Critical Strategies 2014 .The new report, compiled by Thomson Reuters BioWorld, the premier biopharmaceutical news service, provides critical insights for companies and regions interested in maintaining a strong position and moving ahead of the competition in the biosimilars space.
It is rare to see a new business segment emerge in any market,
but this is what is happening within the biopharmaceutical
development industry. There are currently 700 follow-on biologics
therapies moving through pipelines with many already approved and
245 biopharma companies and institutes developing or already
marketing follow-on biologics in markets throughout the world.
Biosimilars are expected to account for approximately one quarter
of the $100 billion worth of sales stemming from off-patent
biologics by the end of the decade.
South Korea is a notable standout in the race for global leadership
in this space and India anticipates biosimilars becoming the most
important economic and therapeutic component of its already robust
biopharma industry.
The study-the culmination of BioWorlds research combined with key
data and insights gathered from CortellisTM Competitive
Intelligence, Cortellis Regulatory Intelligence, Newport Premium
and input from Thomson Reuters Life Sciences Professional
Services-provides a comprehensive view of this emerging market with
a listing of approved biosimilars, company and deal terms for more
than 100 alliances, and an examination of global markets.
Key highlights from the report include:
• Big pharma and generics makers face a steep
learning curve: While generic makers currently lead the pack,
the expertise in this market is held by the biologics makers. New
pure-play biosimilar makers funded by governments and private
investors also have a strong presence in this arena.
• Biosimilars promise to deliver big savings: Typically offering 20 to 30 percent discounts from innovator biologics, biosimilars are expected to deliver $11 billion to $33 billion in savings across the European Union (EU) by 2020.
• Opportunities for smaller players: Start-ups working to make and sell biosimilars in emerging territories could be the David ticket to beat pharma Goliaths that dominate those realms.
• Lower-prices: Slow market uptake of biosimilars in the EU may not also hold true for the U.S. Unlike most of the EU, the U.S. will allow interchangeability, which is expected to speed adoption and lead to lower prices.
• A level playing field: The World Health Organization recently proposed a voluntary, global naming scheme that could level the playing field for biosimilars and their reference biologics.
• Accessible treatment: In many parts of the
world, follow-ons offer new hope to patients who previously did not
have access to pricey biologics, bringing the power of biologics
for the first time to markets in Africa, Asia, Eastern Europe and
Latin America.
Rather than forgo the benefits of biologics, governments and
payers are counting on biosimilars to dramatically change drug
development and patient costs by reducing the price tag of
important biologics and increasing access to life-saving drugs,
said Jon Brett-Harris, managing director of Thomson Reuters Life
Sciences. For this to happen, biosimilars must deliver the power
of the reference drugs at a price developing countries can afford
and gain the confidence of the marketplace. They have to create
their own market.
Interested in learning more about this emerging market? Thomson
Reuters will be hosting a webinar on biosimilars tomorrow, Tuesday,
September 30 at 11 A.M. ET. Click here to register
Learn more about Thomson Reuters BioWorld, Cortellis, Newport
Premium and Life Sciences Professional Services.
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