Move comes as more than 55 brand-name blockbuster biologic drugs, each with peak annual sales above $1 billion, are due to come off patent by the end of the decade
Generic drug makers Teva Pharmaceutical Industries and Sandoz say they are planning a significant ramp-up in production of biosimilars – copies of high-priced drugs used to treat illnesses such as rheumatoid arthritis and cancer – aiming to increase their share of an expanding market.
Use of brand-name biologics typically account for an outsize proportion of drug spending in wealthier countries. Novartis plans to spin off its Sandoz generics business in 2023. The Swiss drugmaker said the unit failed to attract a serious buyer earlier this year as it considered options for the unit’s future.
Teva aims to ensure it is one of the first three biosimilars on the market for any given biologic, according to Sven Dethlefs, executive VP, North America commercial. He said the company intended to kick off multiple biosimilar development programs but would halt production if it could not make the top three.
Generics, which can be priced as much as 80 per cent to 90 per cent less than branded pills, barely cost a few million to develop.
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