Drug companies such as Switzerland's Roche are expected to be hit by the long-awaited threat of cut-price competition from biosimilar drugs, following regulatory approval of copycat versions of its biological cancer treatments. The European Commission has said it will not approve a new version of Roche's blockbuster drug Gleevec until after regulators have given their final go-ahead for an alternative treatment called Avastin. Together, revenues from Roche's Rituxan, Herceptin and Avastin stood at CHF20.9bn ($21.8bn) for 2016, though their combined sales are expected to fall 40% by 2022.
Drug companies such as Switzerland's Roche are expected to be hit by the long-awaited threat of cut-price competition from biosimilar drugs, following regulatory approval of copycat versions of its biological cancer treatments. The approvals will increase the onus on the pharma firm to make a success of its new cancer drugs; Perjeta, Gazyva and Tecentriq, as margins from sales of its established drugs come under pressure. Together, revenues from Roche's Rituxan, Herceptin and Avastin stood at CHF20.9bn ($21.8bn) for 2016, though their combined sales are expected to fall 40% by 2022.