EXCLUSIVE: India making strong progress in biosimilars, with local market estimated at over $900 million
Even as Asia appears to be struggling to come into its own with biosimilar drugs, India seems to be offering a better market to drugmakers chasing the over $1 billion global biosimilar industry in regulated markets, reports The Pharma Letter’s India correspondent.
Biosimilars, the follow-on versions of biologic drugs, are far more complex and difficult to copy than generic drugs because of the structure of the molecules.
A start was made in biosimilars in India way back in 2003, well before their 2006 arrival in Europe. Experts say that, since 2008, the Indian biosimilar industry has been growing at a compounded annual growth rate of 30%. There are around 25 Indian companies operating in the biosimilar space, marketing close to 50 products in the Indian market.
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