"Chairman Thomas' legislative expertise and strategic counsel will prove invaluable in the coming months as Insmed continues in its mission to be the first US-based biotechnology company to develop a comprehensive portfolio of follow-on biologics products," said Dr. Geoffrey Allan, President and CEO of Insmed. "We want to demonstrate to Washington policymakers that the capability to produce safe, effective and more affordable biologics exists today. All that's needed is for Congress to create an approval pathway."
Insmed Inc. is a biopharmaceutical company with unique protein process development and manufacturing experience and a proprietary protein platform aimed at niche markets with unmet medical needs. For more information, please visit http://www.insmed.com
The Follow-on Biologics Market
According to published reports, an estimated $10 billion worth of biologic drugs are expected to come off patent by 2010, with an additional $10 billion by 2015. FOBs would provide safe and effective therapies at a reduced cost following the expiration of the original product's patent. A recent econometric study by economist Dr. Robert J. Shapiro, former Under Secretary of Commerce in the Clinton Administration, found that "...generic versions of the top 12 categories of biologic treatments with patent protections that have expired or that are due to expire in the near future could save Americans $67 billion to $108 billion over 10 years and $236 billion to $378 billion over 20 years."
This release contains forward-looking statements which are made
pursuant to provisions of Section 21E of the Securities Exchange Act of
1934. Investors are cautioned that such statements in this release,
including statements relating to p
|SOURCE Insmed Inc.|
Copyright©2008 PR Newswire.
All rights reserved