The global pharmaceuticals industry is estimated to grow at a brisk rate of 15% annually over 2005 and 2006, according to a study by Frost & Sullivan Chemicals Group, Oxford, United Kingdom. An even more optimistic projection, based on the regulatory approval for a clutch of critical drugs – Genentech, Inc.’s Avastin for colorectal cancer, Imclone/Bristol-Myers Squibb’s Erbitux – a monoclonal antibody against advanced colon cancer, Chiron Corp.’s Proleukin to treat AIDS/HIV – forecasts global revenue growth at over 25% per annum. In 2003 alone, 50 biopharmaceutical drugs from public biotechnology companies were in phase-3 clinical trials in Europe, out of which 10 to 15 were likely to reach consumer market by 2006-2007.
According to Ernst & Young, the total biopharmaceuticals market revenue reached $41.3 billion in 2002, out of a total $350 billion for the whole drug market. Assuming a growth rate at over 25% per year, the global revenue will reach approximately $95 billion by early 2007 (Adhikari, 2004).
In 2002, the leading biopharmaceutical in revenue terms was Procrit (recombinant Protein-EPO), which generated $4,269 million for OrthoBiotech / Johnson & Johnson. Other leading products were Amgen, Inc.’s Epogen, Neupogen and Enbrel, Centocor’s Remicade, Genentech, Inc.’s Rituxan, Biogen, Inc.’s Avonex, Eli Lilly & Co.’s Humulin and Humalog, G laxoSmithKline’s Combivir, and Berlex Laboratories’ Betaseron (Adhikari, 2004).
