Biotech Companies Seeking To Enter Biosimilar Market

The Boston Globe reports, "Bowing to the inevitability of low-cost competition as federal officials push to contain health care spending, biotechs are now scrambling to secure a piece of the discount market for themselves." Momenta Pharmaceuticals Inc., Biogen Idec Inc., and Amgen Inc. "have started separate ventures to develop, make, and market generic biotech drugs, known in the industry as 'biosimilars.'" While generic drug companies are also "preparing for a push into the biosimilar market," the "biotechnology companies believe their experience in making drugs from living cells puts them in a better position to capitalize on the emerging market." While biosimilars are not available in the US, "under a 2010 law, the US Food and Drug Administration is developing a process by which they could be approved, and a set of regulations is expected to be released this year."