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Biosimilars boom is upon us, as Teva and Sandoz plan biosimilars ramp-up

Nov 22, 2022

Reuters reported that Teva and Sandoz are planning a significant ramp-up in production of biosimilars.

According to Reuters:

  • More than 55 blockbuster biologics will come off patent protection over the next decade, and account for more than $270 billion in expected peak annual sales;.
  • The value of the global biosimilar market could more than triple to an estimated $74 billion by 2030.
  • Sandoz is currently the second biggest player after Pfizer in the biosimilar market by gross sales globally. Amgen is in third place).
  • Sandoz has launched eight biosimilar drugs, has 15 products in development, and in the next five years would like to double the value of its marketed portfolio
  • Teva has 3 approved biosimilars and 13 in development.
  • EMA has approved more than 50 biosimilars, and biosimilars have taken the majority of market share from brand-name biologics in Europe and resulted in savings between 75% to 90% off the reference product prices.
  • FDA has approved 39 biosimilars and 22 products have been launched as of October 2022.
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