Biosimilars to replace 70% of chemical drugs in 2 decades - (The Economic Times via NewsPoints Desk)

  • The director general of Pharmaceuticals Export Promotion Council, PV Appaji, on Wednesday said that Biosimilars are set to replace some 70 percent of global chemical drugs over the next couple of decades on account of safety parameters and a huge portion of biopharma products going off patent, The Economic Times reported.
  • Appaji said the chemical drugs will lose preference due to their toxic qualities and side effects.
  • At least $80 billion worth biopharmaceutical products were going off patent by 2015, enabling biosimilars to reach $10 billion from the current $500million, according to Appaji.
  • "India will have at least 20 to 25 percent 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," noted Appaji.

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