Tuesday, April 14, 2009

Biogenerics Are on the Rise

India, although a leader in producing a big portion of the world's generic requirements, has recently been facing difficulties because of their counterfeit drug shipments in the EU. Now according to this article in Patent Baristas the introduction of the Bipartisan Biogenerics Consensus Bill in the US will open up the US market to biogenerics. This means good news!

The bill is intedned for the FDA to approve generic biotech drugs and also provide a regulatory setup. The US has recognized the need for more affordable drugs as many patients are not able to purchase brand name drugs. The GPhA, Global Pharmaceutical Association, mentions this on their website:

“As our nation acts to strengthen our health care system, our priority must be to reduce costs while increasing access to quality care.”

It will be interesting to see the biogeneric market grow within the next couple of years.

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