SMi’s 10th Annual Biosimilars Conference

Memo

10th annual event is the first global event taking place in London, UK. The event’s focus is to highlight the current challenges in the biosimilars market and discuss current plans or developments to overcome these challenges.The biosimilars market is forecasted to reach USD$23.6B by 2023 at a compound annual growth rate (CAGR) of 31.70%. Factors driving the increase of this market include growing demand for biosimilar drugs due to their cost-effectiveness, growing incidence of chronic diseases, and strategic collaborations resulting in enhanced productivity and clinical trial activities.With the expiry dates of major patents fast approaching, the emerging gap in the market for biosimilars is now a major attraction for manufacturers. As the availability of biosimilars could potentially reduce direct spending by USD$54B by 2026, the question is what can current biosimilar producing companies do to join this market to benefit the patients, physicians and investors?