Bad Miss For Biocon’s Bevacizumab In US But Firm In 'Good Place'
Indian Company Remains Upbeat As It Reports Full-Year Results
Biocon is still awaiting a site inspection as pandemic-related delays keep its Viatris-partnered bevacizumab out of the US market, though the Indian company believes it can still make good and garner market share. All eyes are also on traction for its insulin glargine via increased share of formulary contracts.
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The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Industry chiefs and experts, including Sandoz' global head of biopharmaceuticals, deliberated at the recent AAM meeting the status of biosimilars adoption in Europe and trends and opportunities to generate savings for both the US federal government and payers.
Amid continued debate over biosimilar interchangeability in the US, Viatris has said it expects to pick up the first such approvals later this year with the company’s insulin glargine and insulin aspart biosimilar products.