According to industry estimates, India's biosimilars market could exceed $1 billion by 2020, as reported Business Standard Sunday.
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The market reached $186 million in size last year.
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The growth of the market is expected to be bolstered by pending drug approvals as well as the entry of new players such as Aurobindo Pharma into the market.
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"With $60 billion worth of blockbuster biosimilar drugs going off-patent in the US alone, the opportunity for Indian players in this space is significant," remarked Utkarsh Palnitkar of KPMG.
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Aurobindo recently reached a deal to purchase four cell culture-based products from Swiss drugmaker TL Biopharmaceutical.
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Biocon previously teamed with Mylan to jointly develop and commercialise biosimilars, while Dr. Reddy's Laboratories partnered with TR-Pharm to co-develop three investigational biosimilars.
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