EXTON, Pa., April 8, 2013 /PRNewswire/ -- BioTrends Research Group, one of the world's leading research and advisory firms for specialized biopharmaceutical issues, finds that, with sales forecasted to exceed $16.8 billion by 2021, manufacturers competing in the biosimilars market must adopt clear and effective strategies early in product development to maximize potential commercial return. According to Biosimilars Advisory Service: Corporate Strategies, after identifying an optimal biologic target and determining partnerships, biosimilar sponsors need to balance clinical development burdens with sales and marketing strategies and the option of pursuing interchangeability status in the United States in order to compete successfully.
The 2013 Biosimilars Advisory Service report finds that, despite a continued increase of branded biologics sales through 2014, the entrance of commercially relevant, lower-cost biosimilars and resultant brand price cuts will cause the overall biologics market to decrease over the second half of the forecast period across the seven major pharmaceutical markets.
"Innovator companies stand to lose considerable revenue from their key biologic drugs as a result of biosimilar erosion, especially those that rely heavily on biologic sales with near-term patent expiries," said Andrew Merron , Ph.D., Senior Director, Biosimilars Research at Decision Resources Group. "It's imperative for these companies and biosimilars manufacturers to adopt product-based and regional strategies individualized by their respective challenges and opportunities."
Based on analysis of surveys from over 600 key industry stakeholders and extensive secondary market research, report findings reveal that branded biologics companies should implement unique, product-specific strategies fo
|SOURCE BioTrends Research Group|
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