Can India become a biosimilar powerhouse?
News Feb 08, 2011
Alistair Sinclair, healthcare analyst at Datamonitor, comments: “The domestic market for biosimilars in India is limited by low levels of health insurance and therefore poor access to biologic drugs; however given the high level of branded-generic loyalty of the emerging middle class, this could act as a driver of biosimilar uptake.
“Due to the fact that many copycat biologics are already available in India and often approved as new drugs rather than biosimilars, it is difficult to quantify biosimilar sales in the emerging markets. Nevertheless, estimates in India range from as low as $20m and as high as $200m. This could be expected to grow to $580m by 2012.”
Whilst the domestic market shows potential, many Indian biosimilar manufacturers are also looking to expand globally.
Alistair explains: “The developed pharma markets may be difficult to access alone due to the complex and expensive clinical trials and registration process. However, licensing agreements with multinational companies, such as the recent deal between Biocon and Pfizer, can facilitate access to these markets.”
Want to find out more on the Indian Pharmaceutical Market? Click here for Datamonitor’s overview of the Indian pharmaceutical market including socioeconomic trends, regulatory issues, market sizing, expiry analysis and drug infrastructure analysis.
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