You are here: Home » Economy & Policy » News
Business Standard

Exports of biosimilar drugs to get boost

BS Reporter  |  New Delhi 

The increasing interest in the European Union and the US for biosimilar drugs "" low cost variants of branded biotechnology medicines, made available by enacting fresh regulatory guidelines "" has prompted the Indian Pharmaceutical Export Promotion Council (Pharmexcil) to structure a biotech-specific export promotion plan.
The council intends to help Indian companies tap the emerging export opportunities for biosimilar drugs, the market for which is estimated to grow as big as $25 billion in Europe and $30 billion in the US by 2015.
The council planned to involve biotech industry's representative organisation ABLE (Association of Biotechnology-Led Enterprises) in its efforts to set up a new working group on biotech sector, said Pharmexcil chairman DB Mody.
The council will meet ABLE mentor and Biocon chief Kiran Majumdar Shaw on Tuesday to chalk out the details. Pharmexcil's attempts become significant in the context of increasing complaints against medicines exported to developed countries from India.
Being an emerging area, biosimilars have plenty of regulatory gaps that need to be filled before these drugs can be safely marketed in developed countries.

First Published: Mon, July 23 2007. 00:00 IST
RECOMMENDED FOR YOU