17 December 2019
The biosimilars market size is one that’s in constant flux, as new regulations, trade agreements, scientific discoveries, and other factors affect the marketplace on a daily basis. This can make it difficult for business owners and drug manufacturers to predict major market changes and make long-term decisions. That’s why being armed with expert insight can be of great help.
For decades, the experts from Visiongain have been compiling all the latest biosimilar market data into their yearly reports with forecasts and analysis. They’ve shared some of that insight with you below. Here are some of today’s newest and most exciting opportunities for stakeholders in the biosimilars market.
Turkey Prepares to Export Biosimilars in the Coming Years
One big change in the biosimilars market size in the years ahead will be that Turkey has begun preparing to export drugs to the UK over the next two years. Recently, Iranian biosimilars maker CinnaGen Pharmaceuticals opened a new plant in Çerkezköy, Turkey, to produce rare drugs that will reportedly save Turkey $150 million on imports the first year it’s opened. In addition to being able to export drugs to Europe after only two years, CinnaGen Pharmaceuticals representatives also stated the company has signed agreements with several countries, including Qatar, Ecuador, and Algeria.
Korean Biologics firm Receives Approval for Monoclonal Antibody Substance
Samsung BioLogics, one of South Korea’s leading biologics manufacturers, recently received a thumbs up from the Food & Drug Administration (FDA) to continue producing a monoclonal antibody (mAb), the first product produced at one of three new plants it recently built. To date, the FDA and Europe have already approved the company to produce two finished products, this will be its third. Since expanding to the biosimilars market from the chemical manufacturing fields, Samsung BioLogics has become one of the fastest-growing biosimilars companies in the world.
China Biotech Company Makes Huge Progress in Treating Multiple Myeloma
Another big change that will affect the biosimilar market size in the years ahead is the recent development of multiple myeloma treatments. Chinese firm I-Mab Biopharma recently got the green light to expand its ongoing Phase II and III clinical trials for its drug TJ202/MOR202l, which is a monoclonal antibody.
Let Visiongain help you excel in the biosimilars market
For more in-depth information and analysis of the biosimilars market, contact the team from Visiongain today by visiting us online or calling +44 (0) 20 7549 9987. In addition to our biosimilar market size reports, we offer in-depth analysis for more than 18 industry verticals, with over 1,500 reports available.
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