Significant advances in biosimilar medicines claimed for Iran

Iran is making significant advances in medicine production, especially in the fields of biosimilar and biotechnology drugs, said Amir Hossein Eskandar, speaking on Iran’s English-language television network. Press TV, Tehran.

According to Business Monitor International, the total pharmaceutical market in Iran is forecast to increase from $2.31 billion in 2009, with generics representing over half of the sector, to $3.77 billion by 2014, representing a compound annual growth rate (CAGR) of 13.4% in local currency and 10.3% in US dollar terms (The Pharma Letter December 10. 2010). According to the BMI report, by 2019, the drug market in Iran will be worth $5.42 billion.

Unlike the more common small-molecule drugs, biosimilars medicines are important because they exhibit high molecular complexity, Mr Eskandar explained. With over 400 medical research facilities and 76 medical magazine indexes available in the country, Iran is looking to advance in the next 10 years to become one of the top 10 ranked countries in the world in medical research.