Both Biosimilar and Reference Biologics Companies Must consider Various Product-Specific and Regional Strategies to Navigate a Dynamic and Uncertain Global Market Innovator Companies Expected to Lose Significant Revenue Due to Biosimilar Erosion, According to a New Report from BioTrends Research Group
EXTON, Pa., April 8, 2013 /PRNewswire/ -- BioTrends Research Group, one of the world's leading research and advisory firms for specialized biopharmaceutical issues, finds that, with sales forecasted to exceed $16.8 billion by 2021, manufacturers competing in the biosimilars market must adopt clear and effective strategies early in product development to maximize potential commercial return. According to Biosimilars Advisory Service: Corporate Strategies, after identifying an optimal biologic target and determining partnerships, biosimilar sponsors need to balance clinical development burdens with sales and marketing strategies and the option of pursuing interchangeability status in the United States in order to compete successfully.
The 2013 Biosimilars Advisory Service report finds that, despite a continued increase of branded biologics sales through 2014, the entrance of commercially relevant, lower-cost biosimilars and resultant brand price cuts will cause the overall biologics market to decrease over the second half of the forecast period across the seven major pharmaceutical markets.
"Innovator companies stand to lose considerable revenue from their key biologic drugs as a result of biosimilar erosion, especially those that rely heavily on biologic sales with near-term patent expiries," said Andrew Merron, Ph.D., Senior Director, Biosimilars Research at Decision Resources Group. "It's imperative for these companies and biosimilars manufacturers to adopt product-based and regional strategies individualized by their respective challenges and opportunities."
Based on analysis of surveys from over 600 key industry stakeholders and extensive secondary market research, report findings reveal that branded biologics companies should implement unique, product-specific strategies focusing on the development of biobetters, a reliable legal defense, alternative pricing tactics and potential counter-detailing messages to combat biosimilar competition.
The Biosimilars Advisory Service provides insight and analysis that is vital to successful business planning in the rapidly evolving biosimilars space. The service includes quarterly webinars detailing major developments, analyst insight addressing key market changes and opportunities, therapeutic area-specific primary research and forecasting modules.
About BioTrends Research Group
BioTrends Research Group provides syndicated and custom primary market research to pharmaceutical manufacturers competing in clinically evolving, specialty pharmaceutical markets. For information on BioTrends publications and research capabilities, please visit www.Bio-Trends.com. BioTrends is a Decision Resources Group company.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
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SOURCE BioTrends Research Group