Pfizer becomes major player in biosimilar market

Global Business

U.S. pharmaceutical giant Pfizer will expand its line of drugs and therapies with the $16 billion takeover of Hospira, gaining $100 billion in the growing biosimilar market by the end of the decade.

Pfizer becomes major player in biosimilar market

Pfizer becomes major player in biosimilar market

U.S. pharmaceutical giant Pfizer will expand its line of drugs and therapies with the $16 billion takeover of Hospira, gaining $100 billion in the growing biosimilar market by the end of the decade.

Board for both companies approved the deal which will add Hospira’s portfolio of sterile injectable treatments and biosimilar drugs to Pfizer’s broad pharma offerings.

  • What are biosimilars?
    These are medications that are imitations of much more expensive drugs which are made from biological matter like proteins. The process of making a biological drug is intricate and complicated, and the result is not an exact replica. That’s why they are considered similar to the originals . This is different from Generics which are made from chemicals.

Hospira will be launching a biosimilar to an expensive autoimmune drug used to treat arthritis and Crohns disease this week in Europe. Biosimilars have been available in Europe for several years and The U.S. Food and Drug Administration is currently reviewing approving biosimilars in the U.S..

CCTV America’s Michelle Makori interviewed Professor Shein-Chung Chow, of the Duke University School of Medicine about what biosimilars mean for consumers.

Shein-Chung Chow of Duke discusses biosimilar pharmaceuticals

Shein-Chung Chow of Duke discusses biosimilar pharmaceuticals

CCTV America's Michelle Makori interviewed Professor Shein-Chung Chow, of the Duke University School of Medicine about what biosimilars mean for consumers.