Biocon expects 50 percent drop in costs for developing complex biosimilars: Top executive
Biocon is gearing up for a major lift in its biosimilars business, expecting development costs to drop by nearly 50 percent after the US proposed easing clinical testing for the drugs that make up more than 60% of its revenue, a top executive said on Wednesday.
The company is targeting the launch of 20 biosimilars by 2030 and is focusing on upcoming launches in key markets in the U.S. and Europe, Shreehas Tambe, CEO of Biocon Biologics, a unit of Biocon, said in an interview with Reuters.
Biosimilars are copies of costlier biological drugs used to treat major illnesses such as cancer, rheumatoid arthritis, psoriasis and diabetes. The U.S. Food and Drug Administration last month proposed to simplify drug testing by lowering the requirement for large comparative clinical efficacy trials.
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Biocon Limited, publicly listed in 2004, is a global biopharmaceutical company. It has developed and commercialized novel biologics, biosimilars and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe.
