February 2, 2013, 2013, Hyderabad, India –The developing bio-similar market in the U.S. and Europe still looks a little hazy to analysts, with many still pondering just how quickly these biologic knockoffs can muscle aside some powerhouse competition from well-known brands. But in Asia, the global market looms as a ripe, multibillion-dollar opportunity that has attracted growing investments from some leading players.
India's Economic Times underscores just how avid developers in the subcontinent are to play in this emerging market niche. The director general of the Pharmaceuticals Export Promotion Council, PV Appaji, garnered headlines for his projection that biosimilars would command $10 billion in revenue in 2015, up from $500 million. He added that China is the leading country engaged in biosimilars R&D, followed by South Korea--where the multinationals have jumped in--and then India, with 3% of the market.
But that figure is expected to mushroom rapidly.
Appaji said, "India will have at least 20-25% market share in biosimilars market over the next five years as more than 100 major Indian pharmaceutical companies are spending largely on research pertaining to biosimilars."
China is currently leading the emerging global biopharma sector followed by South Korea, while India is hovering at around 3% of global market share. "India will have at least 20-25% market share in biosimilars market over the next five years as more than 100 major Indian pharmaceutical companies are spending largely on research pertaining to biosimilars," said Appaji.
The Indian pharmaceutical majors that are increasing their research focus on biosimilars include Dr Reddy's Labs, Biocon, Cipla, Avesthagen, Intas, Reliance life sciences and Wockhardt among others
*Source : taken from The Economic Times*
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