RICHMOND, VA, January 29 /PRNewswire/ -- The American Magazine has just released a Podcast interview with Insmed Therapeutic Proteins President Steve Glover on how a generic, or follow-on biologics, industry is good for patients and can stem soaring healthcare costs as new therapies increasingly come from biotechnology. The American Magazine is the American Enterprise Institute's magazine of business and economics.
In the podcast, Mr. Glover discusses the need for Congress to establish a clear pathway for the approval, regulation and production of follow-on biologics, enhancing access to biologics therapies for millions of Americans, as the 1984 Hatch-Waxman Act did for pharmaceuticals.
Follow-on biologics are versions of approved biologics that are developed after the original product has been created with the intention of marketing them after the patent on the innovator product has expired, thus bringing competition to monopolistic markets.
Biologics comprise one of the fastest growing and most expensive categories of drugs. It is estimated that 50% of approved pharmaceuticals in 2010 will be biotechnology products, with sales estimated to reach $90 billion.
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) but currently are immune from competition. Follow-on
biologics would provide safe and effective therapies at a reduced cost
following the expiration of the original product's patent.
When: The Podcast is available for immediate download.
How: Go to the URL above, to download the audio file.
About Insmed 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.
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 planned clinical study design, regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development of product candidates, the FDA may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our entrance into the follow on biologics market may be unsuccessful, our common stock could be delisted from the Nasdaq Global Market and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
Minimum Requirements: a computer, an Internet connection, (broadband required), a portable MP3/Video player or MP3/Video-player application on your computer, podcasting software and QuickTime 7. If you experience problems downloading the podcast, send an email to firstname.lastname@example.org.
|SOURCE The American Magazine|
Copyright©2008 PR Newswire.
All rights reserved