Biosimilars present massive opportunity for Indian pharma; report

India’s biosimilars drug industry was worth close to $300 million in 2015, with domestic sales of nearly $250 million and the remainder in exports, and is expanding at a compound annual growth rate of 14%, according to a new report from management consultants Sathguru and ASSOCHAM (the Associated Chambers of Commerce & Industry of India).

However, 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 and reach the target of $40 billion by 2030 and will command an around 20% share of the global market.

Prof D Swaminadhan, president and director general, Jawaharlal Nehru Institute of Advanced Studies (JNIAS), released the report at ASSOCHAM-Department of Pharmaceuticals conference on “BioPharma: biosimilars and biogenerics; emerging investment destination.”