- Clock Shows $1,331 Per Second In Biologic Drug Sales -
LAKE FOREST, Ill., May 5 /PRNewswire-FirstCall/ -- Hospira, Inc. (NYSE: HSP), the world leader in generic injectable pharmaceuticals, today launched a clock tracking real-time U.S. prescription sales of costly biologic drugs as part of an informational Web resource highlighting the potential impact of biogenerics - generic versions of biologics - on the U.S. healthcare system. Although biogenerics are widely available in Europe and other parts of the world today, there is currently no legislative pathway allowing the U.S. Food and Drug Administration (FDA) to approve these safe, cost-effective alternatives for Americans.
"As the first U.S. company to launch a biogeneric medicine in Europe, Hospira brings unique expertise to the growing effort to create a regulatory pathway for these life-saving and life-enhancing drugs in the United States," said Christopher B. Begley, chairman and chief executive officer, Hospira. "We enthusiastically support legislation in Congress to make high-quality, safe and more affordable biogenerics available in this country."
The clock, available at www.hospira.com, gives a year-to-date approximation of biologic drug sales. It is continually updated so visitors can watch the numbers tick away, at a rate of $1,331 per second, or an estimated $42 billion a year.(1) The site also provides links to a study showing the potential billions of dollars in savings associated with biogenerics and encourages visitors to make their voices heard in Washington, D.C., as Congress considers legislation to bring biogenerics to market.
In Europe, the introduction of biogenerics has led to price savings of 20 to 30 percent in some markets.(2) Hospira's biogeneric, Retacrit(R) (epoetin zeta), is a treatment for anemia associated with chronic kidney failure and chemotherapy-induced anemia, and is available in 15 European countries today. Since launch in early 2008, Retacrit has obtained a 30 percent share of the biogenerics market for its drug class.
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness(TM). As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has more than 14,000 employees. Learn more at www.hospira.com.
(1) Hospira research based on IMS Health, news release, June 17, 2008; "IMS Health Reports Global Biotech Sales Grew 12.5 Percent in 2007, Exceeding $75 Billion." U.S. sales accounted for 56 percent of world sales in 2007, according to IMS, which equates to an estimated $42 billion in U.S. sales. The Congressional Budget Office (CBO) says spending on biologics has grown in the United States, "exceeding $40 billion" in 2007 (Budget Options; Volume 1: Health Care, December 2008).
(2) Hospira internal data.
|SOURCE Hospira, Inc.|
Copyright©2009 PR Newswire.
All rights reserved