Indian biosimilar market likely to touch $1 billion in three years

According to industry estimates, India's biosimilars market could exceed $1 billion by 2020, as reported Business Standard Sunday.

• The market reached $186 million in size last year.

• The growth of the market is expected to be bolstered by pending drug approvals as well as the entry of new players such as Aurobindo Pharma into the market.

• "With $60 billion worth of blockbuster biosimilar drugs going off-patent in the US alone, the opportunity for Indian players in this space is significant," remarked Utkarsh Palnitkar of KPMG.

• Aurobindo recently reached a deal to purchase four cell culture-based products from Swiss drugmaker TL Biopharmaceutical.

• Biocon previously teamed with Mylan to jointly develop and commercialise biosimilars, while Dr. Reddy's Laboratories partnered with TR-Pharm to co-develop three investigational biosimilars.