Biocon hopes sales of biosimilars will triple

May 23, 2013 12:00 PM


Biocon is upbeat about its biosimilars. The Indian biopharmaceutical company expects the sales revenue from this segment to treble by FY15.

Biocon hopes the patent expiry of eight of the top 10 biotech products by 2018 will boost the Indian generics market. Biosimilars contributed about five per cent of Biocon’s $450 million sales in FY12. The contribution of this segment is expected to grow to over 10 per cent in FY15 when the company is projected to achieve total sales of $700 million.

“We are seeing an increasing shift towards generics and biosimilars. However, there are steep entry barriers in the US and Europe for biosimilars. Despite this, biosimilars will inevitably provide the next big bolus of growth in the generics market,” Biocon CMD Kiran Mazumdar-Shaw said.

Biocon’s biosimilar business offers a promising portfolio of recombinant human insulin and insulin analogs. It is developing more complex biosimilar biologics, including monoclonal antibodies (MAbs), for the global market. “We sell recombinant human insulin (Insugen) in India and have approvals to sell it in more than 40 countries. Our biosimilar insulin glargine (Basalog) is available in the Indian market and we have approvals to sell it in over five countries. Our global Phase III trial for biosimilar Trastuzumab for treating cancer has gained further traction with ongoing recruitment and trial approval in major European countries. We have also completed patient recruitment in a separate Phase III trial for the drug in India,” she said.

Biocon has also entered into an agreement with US-based Mylan for the global development and commercialisation of three biosimilar insulin analog products.

A study by PwC and Association of Biotechnology led Enterprises estimates the global biosimilar market to grow to $43 billion by 2020 and India to occupy 10 per cent of the market.

“Biosimilars are more affordable than original biologics, though more expensive than generics,” she said.

 

Source: Financial Chronicle India

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