Moody's: AbbVie, Amgen and Roche most exposed to biosimilar drugs market

Moody's: AbbVie, Amgen and Roche most exposed to biosimilar drugs market

Global Credit Research - 25 Feb 2014
New York, February 25, 2014 -- Companies are racing to expand the global biosimilar drugs market, Moody's Investors Service says in a new report, "Biosimilars: Parsing the Industry's Pipelines." And while biosimilar products have been launched in Asia and Europe, they are at least three years away in the US, the world's largest pharmaceutical market.
 
Biosimilar drugs are follow-on versions of complex biotechnology, or "biotech," drugs.
 
"We expect development of biosimilar drugs to continue at a rapid pace," says Senior Vice President, Michael Levesque. "But while in Europe more than a dozen products are now commercialized, in the US no company has yet filed for approval of a biosimilar drug since the existence of the FDA's new pathway for biosimilars."
 
Many of the largest branded biotech products in the US market today are now in biosimilar development by at least one company, Levesque says, and the pipeline is expanding. Blockbuster biotechs facing biosimilar development include AbbVie's Humira, Amgen's Neulasta and Roche's MabThera/Rituxan.
 
The downside risk for biotech companies is long term, rather than immediate, but the most exposed will be AbbVie, Amgen and Roche. While the erosion curve will be much less steep than it is for traditional pharmaceutical products, those companies are among those that will face sales declines.
 
But upside opportunities will be spread among many players, Levesque says. "While the biosimilar drugs market is still evolving, entrants include not only traditional generic players like Novartis and injectable pharmaceutical manufacturer Hospira, but a number of branded drug makers such as Amgen, through a partnership with Actavis, and Pfizer.
 
The new report includes a table listing biosimilar products currently in late-stage development for the US market, including the developers and patent expiries.
 
Moody's research subscribers can access this report at https://www.moodys.com/research/Global-Pharmaceuticals-Biosimilars-Parsing-the-Industrys-Pipelines--PBC_165053.
 
NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: New York +1-212-553-0376, London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at [email protected] or visit our web site at www.moodys.com.
 
Michael Levesque, CFA
Senior Vice President
Corporate Finance Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Peter H. Abdill, CFA
MD - Corporate Finance
Corporate Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376

 

SUBSCRIBERS: 212-553-1653

Suggested Articles

Move over, Roche. There’s a new small-cell lung cancer therapy on the scene, and it belongs to AstraZeneca.

Fujifilm says it is prepared to ramp up production of Avigan for any country that wants to try it as a potential treatment for COVID-19.

Gilead CEO promised to make remdesivir affordable, shortly after the company backed off its request for orphan status amid a public backlash.