Biosimilars set for growth in India: BioAsia-KPMG study

Introduction

India is expected to account for 20-25 per cent of global biosimilars in next five years, according a study conducted by BioAsia and KPMG.

As per the study which was released here on Tuesday, the spending on research pertaining to biosimilars in about 100 companies in the country was on the rise. Biosimilars are officially approved versions of innovator biologics that are off patent.

Segments like oncology, dermatology which involve complex delivery systems were emerging as focus areas for a large number of Indian companies, the report said.

For a better a balanced industry growth, collaboration between the academia and industry could be fostered by addressing some existing concerns pertaining to trust and confidentiality issues.

While appreciating the public sector interest in research and development efforts, the report said it was imperative to channelise private funds towards innovation.

Source

India Brand Equity Foundation, July 23, 2014