Saturday, June 09, 2012

BCBR: 'Drug race lures local companies to fast lane'

Quoting from the June 8th article by Beth Potter:

"Merck & Co. Inc. and Amgen Inc. — two global pharmaceutical companies with operations in the Boulder Valley — appear to be on the front lines of the new and often-stealthy world of researching biosimilar drugs.

Virtually all major drug companies, including Merck and Amgen, are racing to create biosimilar drugs, after the federal government said in 2010 that it would create a quicker path to approval for such drugs as part of the new Patient Protection and Affordable Care Act...

Pharmaceutical companies have become involved in biosimilar research to protect themselves, said Holli Riebel, executive director of the Colorado Bioscience Association, an industry group in Denver.

'They (pharmaceutical companies) have made huge investments in developing biologics, which are complex molecule (drugs) that are more expensive to produce,' Riebel said.

Analysts expect that global sales of biosimilar drugs to grow to $3.7 billion in 2015, according to Datamonitor, a business research firm with offices in New York and London."

Link to the article

1 comment:

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