Safety, Efficacy, and Ethics
Total sales of biotechnology drugs susceptible to generic competition by the end of 2005 are expected to be $13.5 billion, according to Datamonitor. The overall therapeutic proteins market will double in size by 2010 to more than $59 billion.
Pharmaceutical and particularly biotechnology companies must find ways to exploit opportunities in this attractive market as growth from other revenue streams slows. Compounding this trend is the threat of widespread biogeneric competition, which industry experts predict will become a reality by 2010. Thus, companies must aggressively protect patents and develop reformulations to remain competitive.