Biosimilars Market Driven by Pharma Spending Cuts, Study Says

3 February 2010 (Last Updated February 3rd, 2010 18:30)

The high cost of biological drugs, combined with the need to cut spending in the pharmaceutical market, has led to considerable momentum in the biosimilars market, according to a new report. As Europe was the first to introduce guidelines for biosimilar drugs it has emerged as a testing

The high cost of biological drugs, combined with the need to cut spending in the pharmaceutical market, has led to considerable momentum in the biosimilars market, according to a new report.

As Europe was the first to introduce guidelines for biosimilar drugs it has emerged as a testing ground of innovation, according to Datamonitor.

It said that biosimilar uptake will be driven by payer pressure with approval pathways also approved in Japan and likely to be given the go-ahead in the US.

To date, three biologics have entered the market for human growth hormone, epoetin alpha and filgrastim.

On 16 and 17 March 2010 industry experts will gather in Brussels, Belgium, for Arena International's Biosimilars Conference 2010.