How Biopharma Can Flourish in a Deteriorating Environment
A confluence of factors threatens to squeeze prices and limit pharma's access to patients and doctors. But other industries offer lessons in surviving-and thriving in-a shake-up.
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Biosimilars' time has come--in Europe, at least. The European regulators asserted during a workshop in Paris at the beginning of December that biosimilars guidelines will be finalized before mid-2006. This will open up a market which could be worth $8 billion within five years in the EU, according to the European Generic Association (EGA).
Buying Hexal shows Novartis' commitment to generics. The Swiss group also hopes the move will bring more credibility, and better deals, across all of its businesses.
New reference price groups will include both patented and off-patent substances within the same class. Proving true innovation will be the only way to command premium prices. That won't be easy.