While the wave of companies adding traditional generic drugs to their repertoire has been growing for some time, generic biotech drugs are becoming an increasingly popular avenue of expansion for pharmaceutical firms as well, especially in the face of recent and impending regulatory changes which seek to allow greater consumer access to value-priced medications.
Biological drugs, often used to treat serious or rare diseases including cancers and hereditary conditions, often come at a high cost. They are also difficult to manufacture, as troubles at biotech firm Genzyme have recently spotlighted.
Pfizer, the world’s top drugmaker, has been scrambling to ensure that it keeps its lofty position, and it is moving into a variety of high-growth fields to achieve this goal. The company entered the generics market through two partnerships formed earlier this year, and it now plans to utilize its expanded position in the biotech industry (gained through its recent merger with Wyeth) to begin developing and making generic biotech drugs.