Biosimilars Market Expected to Soar

LONDON, Feb. 14, 2013 /PRNewswire/ -- Top representatives from the healthcare industry are confirmed to attend the 2^nd Biosimilars Congregation which will take place in London on the 19^th and 20^th of February 2013. Ranjith Gopinathan, Frost & Sullivan Program Manager for Life Sciences, Europe Practice, is set to participate to the event's Keynote Panel Discussion focusing on challenges and opportunities in the global biosimilars market.

"Experience in biosimilars development, manufacturing and commercialisation in regulated markets such as Europe and the US is limited. Furthermore, reluctance from some physicians and patients to adopt biosimilars due to perceived efficacy and safety issues could have an adverse impact on market penetration. Such uncertainties, in addition to the complex regulatory pathway, compound the risks for biosimilars manufacturers," says Ranjith Gopinathan, Frost & Sullivan Program Manager for Life Sciences, Frost & Sullivan.

Initially, manufacturers of biosimilars will focus on the 3 protein classes of erythropoiein and human growth hormone due to their recent patent expiry. In the long run, insulin, interferon and more complex proteins like monoclonal antibodies are likely to emerge.  However, some companies may concentrate on certain therapeutic classes depending on their capabilities and strategic fit.

Europe has the highest number of biosimilars approvals in the regulated market and will continue to increase in the near future. Further patent expiries of biologics will likely increase the number of approved biosimilars and players in the market and thereby will bring in a greater number of products that will increase the market size. Biosimilars are currently priced at about 20-30% below the original product price.

The 2^nd Biosimilars Congregation 2013, which is organised by Virtue Insight, will bring together top pharmaceutical, biotechnology and regulatory representatives under one roof, who will address the industry key issues - ranging from the evolving regulatory landscape and challenges in clinical development, to the legal and economic aspects. The event will take place in London, UK, on the 19^th and 20^th of February.

For more information please click on the following link or contact [email protected] - http://www.virtueinsight.com/pharma/2nd-Biosimilars-Congregation-2013/

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SOURCE Frost & Sullivan