Tuesday, May 31, 2011

The Need for Biosimilars

“Last year, Americans and their insurers spent $307.4 billion on prescription medicines, according to IMS Health, which tracks data for the health care industry.” The constant rise in the price of pharmaceuticals has caught the eye of elective officials, and they’re looking to for ways to contain costs.

Members of the House of Representatives have established a committee to produce legislation to lead to a wider use of generic drugs and biosimilars as a way to reduce national health spending growth. Although cost containment is a driving factor, their goal is not solely to reduce the cost of medication, but also influence lawmakers to actively solve these ongoing issues. They also hope to expand the size of the FDA office that’s in charge of approving biosimilars and biobetters.

“Rising drug costs and limited health care budgets across the world, coupled with the fact that many biotechnology drugs will soon lose their patent protection, means that there is a huge opportunity for biosimilar manufacturers.” As more blockbuster biologics approach expiry, interest in biosimilars and biobetters is sure to expand.

This year’s Business of Biosimilars and Biobetters provides you with the opportunity to learn about biosimilar prospects around the world, with speakers from Korea, India, Australia and more. You will also be able to network with other attendees from the UK, Switzerland, Japan, Hungary, India, Canada, the Netherlands and more.

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