Biosimilars forcing Big Pharma to go generic

In a recent article at The Economist, they look at the ironic turn drug companies have taken. In an effort to join the trend of double digit growth, many major Pharma companies are extending their assets and partnering with companies in order to ride the wave of successful biosimilar sales.

Although biotech-based drugs account for only a fifth or so of global drugs sales they are projected to grow at double-digit rates as sales of many conventional drugs decline, especially with a large number of patent expirations coming. Add the fact that many biotech drugs produce enormous profits—some treatments cost $100,000 or more per year—and it is easy to see why the sector looks like a juicy target for generic assault.

Do you expect to see an increasing number of partnerships come about like Pfizer and Biocon? What will their importance be for the industry?

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Biocon and Pfizer team up to promote insulin biosimilar

Biocon, Asia's leading biotechnology company, will be teaming up with Pfizer to promote the insulin biosimilars Glargine, Aspart and Lispro throughout the world according to Topinews. This partnerships will represent the companies working together worldwide on manufacturing, marketing and research. Biocon will receive $200 million up front and payments of $150 million in regulatory payments.

David Simmons, president and general manager of Pfizer’s Established Products Business Unit, stated:
"We are excited to join forces with Biocon in the battle against the disease and economic burden that diabetes poses to global health. Our alliance with Biocon will enable the delivery of biosimilar insulin products, providing attractive, cost-effective treatment options to more diabetes patients."

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