Mapping Out the Future for US Biosimilars/Follow-on Biologics… How Low Can They Go?
Why all the fuss? The market for innovative biologics exceeded $43b in 2006 and is growing at ~12% annually. With costs for treatment exceeding $50,000/yr for cancer drugs like Erbitux or Avastin, and no clear path for generic alternatives, biologics have occupied a comfortable position in an industry facing mounting generic competition. However, the tide may be turning - Europe already has a biosimilar regulatory pathway in place and the US appears poised to follow. The cost of prescription drugs is…