Biologics become part of top selling drugs
Biologics, also known as biopharmaceuticals have entered the list of the top 10 selling drugs, with seven of them featuring in it.
December 28, 2016: They have been revolutionary in the treatment of serious illnesses like rheumatoid arthritis, cancers and diabetes.
As against conventional medicines, which are made of chemical compositions, biologics are complex molecules made of living organisms. The shift has been visible in the last ten years with rising commercial value of injectable biotech medicines. The regulatory scenario is still tough for the drugs in the US market, but their sales have bypassed sales of traditional medicines due to their contribution as high value therapies for chronic conditions like oncology.
The Indian market for biosimilars are valued at US$ 300-400 million growing at a Compound Annual Growth Rate of 14 per cent. Domestic companies have been actively focusing on research on biosimilars to increase its share in the global market. The new regulatory policy and the affordability that biosimilars provide will help the domestic market to reach US$ 40 billion by 2030, commanding over 20 per cent share in the global market as per a report by Assocham- Sathguru.