Latest launches to help Biocon reach billion-dollar biosimilar sales by 2022: Kiran Mazumdar Shaw
Herceptin is a biosimilar trastuzumab is going to be a major launch for both Biocon & Mylan.
Help us to understand about Mylan Biocon launching Herceptin in the US markets. What is the opportunity, how important a milestone is this going to be for you?
This is a very important launch for us because Herceptin or biosimilar trastuzumab is a very big breast cancer product and we believe this is going to be a very major launch for both companies and that we can make a big impact in the US. The addressable market size in the US at the moment, is close to $3 billion and we believe that even after factoring in the discounts that biosimilars will create, it still is a very large opportunity for Mylan and Biocon.
This being the second such launch in the US, would the marketing and ramp up be a lot better?
Yes. We have had a very successful launch of pegfilgrastim and we believe that adding trastuzumab to this is going to also add to our growing stature in terms of biosimilars.
You also had an approval by the USFDA recently for additional capacity to manufacture Fulphila. What does it add to the growth potential in the US?
The expanded capacities for pegfilgrastim now allows us to add to what we have already done with it. We were supplying all that we could, in terms of capacity. With this capacity enhancement, we will not only be able to address the US market opportunity but also the global market opportunity which until now has been starved.
We believe that both trastuzumab and pegfilgrastim have a huge opportunity to address. Plus there will be glargine and even the recombinant human insulin.
-Kiran Majumdar Shaw
Do you think Biocon is getting into a phase where various catalysts are now unfolding for the biosimilar business? Do you see this as an inflection point for the company?
Absolutely. We have, in fact, indicated that we are targeting a billion dollars of biosimilar sales by 2022. It tells you that our ducks are lining up.
What are the other catalysts for the company in the next 12 to 18 months?
We believe that both trastuzumab and pegfilgrastim have a huge opportunity to address. Plus there will be glargine and even the recombinant human insulin. All our announcements of low-cost insulin for middle and low income countries are there. The USFDA has recently abbreviated the approval pipeline for insulin that also offers us another added opportunity.
You recently also have been in the news for offering a plan of daily insulin at about 10 cents to low and middle income countries. How do you plan to cut prices so much and still be commercially viable?
You must understand that we are already selling insulin to many markets in a very profitable way at this level, including in India. We believe that economies of scale will only make this business a very large business for us.