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Asian Journal of Biomedical and Pharmaceutical Sciences | Volume 8
March 26-27, 2018 | Orlando, USA
World Summit on
Healthcare & Hospital Management
&
International Conference & Exhibition on
Biologics and Biosimilars
Md Abu Zafor Sadek
University of Dhaka, Bangladesh
Growth potential of biosimilars in emerging countries
I
n viewof the global changes in disease pattern, reduced health
budget, patent expiry of some high valued products and side
effects of chemical drugs, global pharmaceutical giants are
concentrating on biotech products among which anticancer,
cardiovascular, antidiabetic, antiasthmatic, antiarthritic
products are especially important. However, developing a
biotech product involved huge cost which is possible only
by research based top companies. Realizing the fact, many
pharmaceutical companies tried to imitate the original biotech
products after patent expiry and became successful which bring
a breakthrough in terms of health cost. These imitated products
are termed as biosimilar products. Although the history of
biosimilars started at European Union (EU) in 2006 with single
product, but currently it has been recognized everywhere in
the world and EU have highest 19 biosimilar products. United
States Food and Drug Administration (USFDA) was little
conservative with biosimilars; nevertheless, they approved the
first biosimilar 09 years after EU approval and presently they
have three biosimilars which are playing significant role in price
cutting of branded biologics. They also have somany biosimilars
under pipeline. Emerging economies especially China and
India are very aggressive with biosimilars. Considering easy
regulation, cheap labor and related cost factors they are in
little advantageous than others. Under Pharmaceutical Benefits
Scheme, Australian government is promoting biosimilars and
they already approved 09 biosimilars. Japan, Korea, Canada,
SouthAfricaarealsoencouragingbiosimilars.However,itisworth
mentioning that in spite of enormous potentiality and rapid
growth till to date biosimilar market is insignificant compared
to total pharmaceutical market and success of biosimilars will
depend on the acceptance by the physicians, treatment cost
reduction, trust on manufacturer, proper information, drug
substitution, efficacy, safety etc. Considering present stumpy
growth in pharmaceuticals, geographical location, economic
growth, drug policies, expertise etc., emerging economies may
be an impressive hub for rapid growth of biosimilar products.
Therefore, this study will concentrate to determine the growth
potential of biosimilars in emerging countries.
Speaker Biography
Md. Abu Zafor Sadek is serving as a Senior Additional Manager, Product Management
at Renata Limited, one of the top tier pharmaceutical companies of Bangladesh. Being
graduated in Pharmacy from Khulna University, he has started his career at Orion
Pharmaceuticals Limited as Product Executive. Thereafter, he has completed his MBA
in International Business from Dhaka University. He has more than 11 years’ career in
Pharmaceutical Management with excellent track record. His area of interests includes
launching time demanded new products, brand management, strategy formulation,
business opportunity identification, international business, training, presentation skills
etc. In addition to his regular job, he is pursuing for Doctor of Business Administration
(DBA) Degree on “Growth Potential of Biosimilars Products in Bangladesh” from the
Institute of Business Administration (IBA), University of Dhaka- the leading business
school of the country. He has 05 publications in different local and international journals
including International Journal of Business and Management, Canada. His article
namely “Persuade of Marketing Mix in Choosing Biological Products by Specialists
Doctors” is going to be published very soon. He has presented biosimilars and other
topics at different conferences across the world including 5th European Biosimilars
Congress, Valencia, Spain and 2nd Biosimilars Asia-Pacific Summit, Singapore. He is
also involved in writing health column for the leading Bangladeshi newspapers.
e:
azs_sohel@yahoo.com