The market for biosimilars or the cheaper generic equivalent of biotech-based medicines mainly for treating life-threatening diseases such as cancer, will be more than $40 billion in India by the next 15 years. A new report released by industry lobby Assocham and its knowledge partner Sathguru Consultants on Thursday said that this segment offers $240 billion global opportunity for Indian drug industry by 2030.
With the introduction of a new regulatory policy in India and increased affordability that biosimilars offer, the domestic market is expected to grow at an accelerated pace, said the report released by D. Swaminadhan, president and director general, Jawaharlal Nehru Institute of Advanced Studies (JNIAS) at Hyderabad.
Indian biosimilars industry was close to $300 million in 2015 and the domestic sales are close to $250 million growing at an annual rate of 14 per cent. While, exports contributed close to $51 million. Biosimilars will command about... Read full article
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