Pharma major Dr Reddy’s Laboratories Ltd is planning to launch its biosimilars in developed markets soon.
In his letter to the shareholders, Dr K. Anji Reddy, Chairman, said biosimilars of his company were now commercially available in 13 emerging markets.
“These are helping to treat patients suffering from cancer at prices that are significantly more affordable than the corresponding innovator drugs. Soon, I expect to see Dr Reddy’s biosimlars entering developed markets,’’ he said.
At present, the biosimilar portfolio of the Hyderabad-based company comprises Filgrastim, peg-filgrastim, Rituximab and Darbepoetin alfa.
Dr Reddy’s global biosimilars business earned $26 million revenue during 2011-12 marking a 25 per cent year-on-year growth.
Last month, Dr Reddy’s entered into a partnership with Merck Serono, a division of Germany-based Merck KGaA, to co-develop biosimilar compounds. The collaboration was to focus mainly on monoclonal antibodies (MAbs) in the oncology segment besides manufacturing and commercialisation of the compounds.
Biosimilars are officially approved versions of innovator biologics that are off patent.
JAPAN Launch
Dr Reddy’s was also planning to launch its first generic products in Japan in the next three to four years along with its partner Fujifilm, he added.
Japan is second largest pharmaceutical market in the world with an estimated size of $97 billion. About 23 per cent of Japan’s prescription drug sales by volume are generics versus 70 per cent in the US. On research and development, about two-thirds of the total R&D investment last year ($125 million) was spent on development of generics which “continues to be an area of high potential and sound returns,’’ Dr Reddy said.