STORY OUTLINE
- Pfizer: Excelling in the line of Biosimilar drugs with an experience of more than 10 years with presence in over 180 countries.
- Amgen: Making pharmaceutical products with an experience of over 40 years and presence in over 100 countries.
- Viartis: Presence in over 165 countries, and making Biosimilar drugs in over 75 markets, this pharmaceutical company is another leading contributor of US Biosimilar market.
- Coherus Biosciences: Increasing patient access to cost effective medicines with a Biosimilar drugs experience of 13 years.
- Biogen: serving humanity through science with a experiences of more than 40 years in the field of biologics.
- According to Ken Research, the US Biosimilar market is anticipated to grow at a CAGR of ~40% in the next five years which currently has a market size of ~USD 9.4 Bn.
The US Biosimilar market is rapidly growing and will be witnessing a significant growth in the next five years.
There are various reasons behind the rapid growth of US Biosimilar market. Some of the major reasons behind the growth of US Biosimilar market include the cost effective nature of Biosimilar drugs, rising geriatric population, rising prevalence of chronic diseases, and growing partnerships between companies to develop Biosimilar drugs.
Various companies and players are contributing to their best efforts in the growth of the US Biosimilar market.
This article aims to put light on the contributions done by the major players towards the growth of the US Biosimilar market.
1.Pfizer
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Pfizer is a leading American pharmaceutical company which is operating in the field of generics or original drugs for more than 30 years. But did you know that this pharma not only manufactures biologics but also biosimilar drugs?
Pfizer has been in the business of biosimilar drugs for more than 10 years and have been quite successful as well. With more than 83,000 employees and presence in over 180 countries, this leading pharmaceutical company made almost USD 2 Bn. revenue only from its Biosimilar drugs sale in 2021.
Recently, this pharmaceutical company also collaborated with Samsung in two deals to produce various biosimilar drugs in South Korea. The deal size between these two companies happens to be approximately USD 900 Bn.
The major Biosimilar drugs of this pharmaceutical giant are primarily
- ZIRABEV (a Biosimilar of Avastin)
- TRAZIMERA (a Biosimilar of Herceptin)
- RUXIENCE (a Biosimilar of Rituxan)
- RITACRIT (a Biosimilar of Epogen)
- NVYEPRIA (a Biosimilar of Neulasta)
- NIVESTYM (a Biosimilar of Neupogen)
- FILGRASTIM (a Biosimilar of Neupogen).
2.Amgen
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Amgen is another leading American pharmaceutical company which not only makes Biologics or generic drugs but also Biosimilar drugs. This pharmaceutical company has more than 40 years of experience when it comes to pharmaceutical line.
With over 25000 employees and presence in over 100 countries, this pharmaceutical company earned about USD 2 Bn. from their three biosimilar drugs which are reportedly MVASI, KANJITNTI, and AMJEVITA.
This pharma giant has also invested about USD 2 Bn. in the development of Biosimilar drugs.
This pharmaceutical company has made Biosimilar drugs primarily in 4 fields which are General Medicine, Oncology, and Hematology along with, Inflammation.
- EPOTEIN ALFA
- AMJEVITA
- AVSOLA
- KANJINTI
- MVASI
- RIABNI
are the various Biosimilar drugs of Amgen. And, STELARA, EYLEA, SOLIRIS are in their pipeline.
Recently Amgen revealed their Biosimilar report’s 8 version. It revealed a major information which said that the pharmaceutical company saved about USD 10 Bn. through their Biosimilar drugs in the past five years.
3.Viartis
Headquartered in Canonsburg, Pennsylvania, this American pharmaceutical company was founded only in 2020 yet they have achieved massive success in the pharmaceutical products with their revenue being USD 16 ~Bn. in 2022.
With presence in 165 countries and with over 45,000 employees worldwide, this pharmaceutical company makes pharmaceutical products in 10 areas which primarily are Cardiovascular, Dermatology, ophthalmology, Oncology, Gastroenterology, Women’s health, Infectious diseases, Diabetes & Metabolism, Immunology, CNS & Anesthesiology, Respiratory diseases and allergy.
Speaking of their first Biosimilar products, their first ever Biosimilar drug was launched in 2014. They have a variety of Biosimilar drugs which are primarily
- TRASTUZUMAB
- INSULIN ASPART
- PEGFILGRASTIM
- INSULIN GLARGINE-YFGN
- ADALIMUMAB
- BEVACIZUMAB
Their Biosimilar drug Insulin Glargine which is known as SEMGLEE was the first ever interchangeable Biosimilar drug in the United States which was FDA approved.
Their PEGFILGRASTIM also was the first ever FDA approved drug in the United States. They have launched their Biosimilar drugs in over 75 markets worldwide.
4.Coherus Biosciences:
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Headquartered in Redwood city, California this American pharmaceutical company earned a revenue of almost USD 211 Mn. In 2022.
With presence in over 55 countries and 300+ employees worldwide, this pharmaceutical company makes products in various areas such as solid tumors, non-small lung cancers, nasopharyngeal carcinoma, small cell lung cancer and hepatocellular carcinoma.
Speaking of their Biosimilar drugs, this pharma has been in the field of creating Biosimilar drugs since 2010 which has given them almost 13 years of experience.
This pharmaceutical company also disclosed that it plans to spend at least USD 1 Tn. on medicines worldwide, out of which at least 40% will be spent on Biosimilar drugs.
Their three major Biosimilar drugs which are also FDA approved include UDENCYA, YUSIMRY, and CIMERLI.
Udencya is a Biosimilar drug of Pegfilgrastim, Yusimry is a Biosimilar drug of Ranibizumab, and Cimerli is a Biosimilar drug of Adalimumab.
5.Biogen
Headquartered in Cambridge, Massachusetts, this American pharmaceutical company earned a revenue of around USD 10 Bn. in 2022.
This company happens to have an experience of more than 40 years when it comes to making pharmaceutical products.
With presence in over 80 countries and more than 9000 employees worldwide, this pharmaceutical company primarily deals in Neurology, Specialized Immunology, Neuropsychiatry, Ophthalmology, and Rare Diseases.
- ADUCANUMAB
- LECANEMAB
- TOFERSEN
- ZURANOLONE
- LITIFILIMAB
- BENAPALI
- FLIXABI
- IMRALDI
are some of their Biosimilar drugs.
With their Biosimilar drugs, more than 250,000 people have gone on Anti-Tumor Necrosis Factor therapy.
Recently, this pharmaceutical company also made an agreement with Bio-Thera solutions to develop a Biosimilar drug for the treatment of Rheumatoid Arthritis.