On December 9th, ASBM participated in the 16th Biosimilar Congregation, which focused on the Indian biosimilars market. By 2030, India is expected to become the sixth-largest market for pharmaceuticals, and has already firmly established itself in the global biopharmaceutical market. Many Indian pharmaceutical companies are preparing to step into the global biosimilars market.
ASBM was represented at the conference by Advisory Board Chair Philip Schneider, who moderated a panel on Market Access. The panel, comprised largely of representatives from Indian pharmaceutical companies, examined key challenges to gaining market access and sought to identify best practices for successfully entering tomorrow’s biosimilar market.
Topics discussed included current trends in biosimilar markets, the importance of sustainable pricing and reimbursement practices, ethical concerns, and strategies for overcoming market barriers.
A major takeaway from the discussions was that buidling confidence among physicians and patients was critical to success. To that end, panelists were strongly supportive of providing data demonstrating safety and efficacy of Indian biosimilars, including studies which showed patients may switch safely between originator products and biosimilars.
Learn more about the 16th Biosimilars Congregation here.