Future for biosimilars hugely promising, Momenta CEO tells GPhA meeting

Craig Wheeler, chief executive of Momenta Pharmaceuticals (Nasdaq: MNTA) discussed the promise and prospects for the international biosimilars market at the US Generic Pharmaceutical Association’s (GPhA) annual meeting in Orlando, Florida, USA, last week.

“We will need to be science-based, we will need to be global and we will need to have a cost-effective infrastructure,” Mr Wheeler told the more than 600 members at the meeting, pointing out that “these are the measures that will predict long-term success. The promise is huge. By 2020, biologics, with a total of over $100 billion in annual sales, will have lost patent protection. Biologic drugs are clearly the growth area for the future.” Momenta itself recently earned an upfront $33 million, with the potential for a further $390 million in a deal with Baxter International to develop follow-on biological drugs (The Pharma Letter December 28, 2011).

Unlike traditional chemical-based prescription drugs, biologic medicines are derived from living organisms, such as yeasts or bacteria. Biologic medicines are often the only treatments for many of the most severe diseases. However, their high price tag can keep them out of reach for many patients. As proven with chemical prescription drugs, competition from generics will be the most important factor in holding down the cost of biologic medicines.