Tuesday, 4 August 2015
Biosimilar Drugs Promises Cost Effective Treatment Even For Deadly Diseases
Follow- on biologics (FOBs) is a biological, inventor developed product that has greater similarity to biological products that has been already approved. Both approved biological medicines and FOBs have no clinical difference when it comes to the safety as well as potency of the products. The application of FOBs also popular as biosimilars in blood disorders, Oncology diseases, deficiencies in growth hormones plus may others, exhibit the greatest market potential as a result of dynamic patent scenario.
Wider choice for biologic oncology treatment have now invaded markets including United States. The arrival of biologic for cancer treatment would help drive low cost for many of the highly –priced products in patient care. Treatments that worked as restraint for cancer’s biological substructure have undergone drastic change for some cancer types. The arrival of biosimilar now accounts for approximately ½ cancer medicine spending up from nearly 11 percent 10 years back reported IMS Institute. Recently, Hetero pharmaceuticals introduced their biosimilar medicine Rituximab in India under MABALL found effective in treating blood cancer.
In another incident the FDA recognised the first FOBs in the US. The regulatory body confirmed that the medicine Zarxio can now be used for various chemotherapy treatments. This drug aids in the production of white bloods cells in a patient’s body. Besides this, the drug is a generic make of the Neupogen. Apart from this absence of cost effective drug in the GHD treatment market also signifies great opportunity, because the latest biologics popular as biobetters is costly.
Today, FOBs are being used to a greater extent in NHS. Similarly, NICE also comprises of biosimilars in its new technology which is an appraisal on somatropin. Health professionals believe that the biosimilar drugs for hormonal deficiency would be highly accessible and become popular over the next four to five years Biosimilars provide NHS significant cost saving, majorly as they are effective for treating long – term medical conditions.
AlliedMarket Research has published a report titled “World Biosimilars/Follow-on-Biologics - Market Opportunities and Forecast, 2014 – 2020.” As per the report the FOBs industry would register a growth of nearly 49.1 percent during the forecast period 2014 to 2020.