Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Industry News

| More

Indian biosimilar market to be worth $40 billion by 2030

Posted On: 2018-11-23 19:00:07

The Confederation of Indian Industry (CII) & Sathguru Management Consultants released a position paper on Indian Biosimilars Industry - "Indian Biosimilars Industry: Roadmap to Actualize Global Leadership" at the 2nd National Biotechnology Conclave 2018 - Driving Inclusive Growth for Indian Bio-economy Vision- 2025 organised by CII in Delhi.

Biosimilars present a very attractive opportunity for Indian pharma companies going beyond small molecule generics ridden with intense competition and price pressures. Based on analysis of currently approved biologic drugs and global pipeline, in the most optimistic scenario, we estimate that the global biosimilar market will be worth of $240 Billion and Indian biosimilars market will be worth of $40 billion by 2030. Growth is being driven by increasing market maturity in Europe, more recent forthcoming environment for regulatory approvals in US and high unmet clinical need across RoW markets.

With record number of domestic approvals, active engagement in semi-regulated markets and growing footprint in regulated markets, the Indian biosimilar industry is poised at the cusp of growth. There are more than 70 biosimilars approved in the country today. The revised Indian guidelines released in 2016 have not only resulted in a rigorous framework for approvals in India, but have also paved the way for leaner bridging effort to enter global markets. At this juncture, it is imperative to nurture the vibrant industry landscape and support the industry in value realization. Major challenges to combat to secure a sustainable future for Indian-made biosimilars and key recommendations are:

1. Expanding markets in domestic landscape: Biosimilars as a means to overcoming affordability barriers is a promise that is a promise that is yet to be translated to reality in several countries including India. Though substantial level of price erosion has been breached, overall market size is currently unattractive as volume penetration remains significantly low. For instance, one of the more mature assets in India, Trastuzumab biosimilar had overall sales of about Rs. 286 crores in 2017 translating to less than 10% penetration when assessed on the basis of overall clinical need. Price control has had insignificant impact on expanding access as overall cost of care in indications such as oncology still remains out of reach for majority of the population. Hence, is it is important to consider other models of aggregated and negotiated buying for public health so that blanket price control can be avoided. It is critical that affordable biologics are included in national coverage programs to expand access, especially at a time when landmark public health programs such as Ayushman Bharat PMJAY are rolled out. Finally, as done in certain European countries with high success in biosimilars adoption, a multi-stakeholder approach has to be engaged to drive greater awareness, clinical adoption and market expansion.

2. Strengthening upstream technology backbone: Sustainable success in the segment will hinge on production economics, especially as prices erode and unit cost and enhanced capex recovery become critical. There is urgent need to strengthen industry's backbone in upstream technology development, especially in areas such as high yielding clones and industry-academia platforms should be explored. For near term impact, globally benchmarkable non-dilutive funding and fiscal incentives for technology acquisition should be considered.

3. Paving the way for sustainable leadership in global markets: As regulated markets embrace biosimilars and move towards higher market maturity, it is optimal time for the industry to expand thrust on regulated markets, that will constitute majority of the near term global markets by value. However, given the significant level of binary risk per asset (clinical development investments of about $100 to $150 million per asset), key to defraying risk and expanding investment appetite will lie in more aggressively pursuing strategic partnerships with global as well as domestic counterparts. The Biocon-Mylan partnership is a great testimony to strategic value of such partnerships and has resulted in Indian developed biosimilars being among the first wave of approved assets in regulated markets. For RoW markets, the WHO PQ presents great promise as a mechanism that can provide aggregated access to multiple markets that are relatively less mature. India should encourage fast tracking of the WHO PQ pilot while pursuing regulatory reciprocity in select markets until such aggregated possibility is a tangible reality. Finally, as done through bodies such as PHARMEXIL in small molecule drugs, a multi-stakeholder approach to enhance global reputation and support global market access will greatly accelerate market expansion in the fragmented RoW markets.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

TrustLine Announces Successful Closing of Intrinsic Deep Alpha AIF - Category III Offering

Bharti AXA General Insurance Receives IRDAI Nod for Health and Motor Insurance Proposals under Sandbox Project

Ather Energy invites dealers to set up experience centers across India

Restriction on import of refined palm oil will safeguard the margins of domestic palm oil refiners while also improving their capacity utilisation: ICRA

Cognizant Named a Leader in SAP Services by Independent Research Firm

CarDekho becomes first auto fintech platform to process 100 cr of monthly used car loans

Super Surfaces raises half a million USD as Angel Funding

KARVY Group initiates corporate restructuring

ICRA Analysis: Hospital sector performance on the growth path after two years of subdued performance

ICRA maintains stable year-end outlook for Construction sector

ZestMoney's 0% EMI Launched on Myntra

Ministry of Railways revises tariff of standard meals on static units

ClearTax launches feature of Nil GST Return Filing for CAs and Businesses

Almost 70% of BankBazaar Consumers have a Healthy Credit Score

MSE Financial Services Ltd has commenced online trading

JNPT bags 'Public Port of the Year (container)' at the Samudra Manthan Awards

TAFE Chairman Mallika Srinivasan appointed to the Global Board of U.S.-India Business Council

Mastercard Picks BharatPe for its Start Path Program

Adani Foundation celebrates skilling 50,000 youth

Vikram Solar Brings Solar Energy to 3 More Airports in India

Times OOH helps Godrej Interio set up Experience Zone at Mumbai Airport

Vikram Solar wins CII Award for Customer Obsession Three Years in A Row

Windrose Capital leads the $600K investment round in Nivesh.com

CarDekho closes $70 million round from leading investors in China and Europe

Bosch Power Tools inaugurates Bosch Service Center in Mumbai, India

CarDekho Group forays into Philippines, acquires Carmudi

Dun and Bradstreet launches first-of-its-kind cloud database repository on Indian businesses

GoAir attracts global delegates at Global Exhibition on Services 2019

Sluggish demand tempered cement prices; demand growth likely around 4% in FY2020: ICRA

ICAI signs MoU with Kuwait Accountants and Auditors Association (KAAA)

PAYBACK India Strengthens Travel Portfolio by Partnership with Online Travel giant Cleartrip

FlexiLoans.com emerges among the top 100 global FinTech innovators' list by KPMG and H2 Ventures

Over half the delayed housing projects in India's 9 residential markets are in MMR: PropTiger report

Cognizant Named an AI Consultancy Leader in Asia Pacific by Independent Research Firm

SIDBI plans to set up Swavalamban Connect Kendras to promote the spirit of entrepreneurship

Virgin Atlantic relaunches daily direct flights from Mumbai to London

MX Player raises $110 million from Tencent and Times Internet

OPPO to Launch Qualcomm-Powered Dual-Mode 5G Smartphone by End of 2019

Indians Accumulating Gold The Smart Way This Dhanteras With ETMONEY GoldDeposit

Mr. Ratan N Tata felicitated with the Chiratae Ventures Patrick J. McGovern Lifetime Achievement Award 2019

SIDBI acknowledges outstanding performers in the Micro and Small Enterprises sector with SIDBI India MSE Awards

Saraswat Co-operative Bank launches 'Saraswat Bank 100+ Smart Savings Account App'

Afghanistan Trade Event Drives Over $55 million in New Business

InstantPay granted Corporate Agency license by IRDA

ICAI and ICAEW renew qualification reciprocity agreement

Implementation of Uniform Banking Hours in all Public Sector Banks (PSBs) on PAN India

No more 'Single Use Plastic', says Usha International

Chennai Machine Tool Expo 2019 Brings Technologies to the Doorsteps of Tamil Nadu

Affordable homes account for over 48% unsold units in MMR: PropTiger report

PaisaWapas announces special cashback for Amazon and Flipkart festive sale







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019