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Barron's: Biotech Clones
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02.17.07Views:
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From Barron's 2-19-07:"Generic competition for Biotech firms like Amgen and Genzyme drew a step closer Wednesday, when a bipartisan group in Congress introduced a bill to authorize Food and Drug Administration approval of generic biologic drugs. Traditional drugs have had 20 years of government-authorized generic competition, but there's been scarcely any competition for biologics -- those proteins or other fancy molecules typically made in cell cultures of genetically modified organisms. The lack of competition has enabled biotech companies to charge tens of thousands of dollars a year for treatments, creating lucrative businesses from even a small number of sick patients."
"So after Amgen's patents expire, the government and private insurers would love to see competitive pricing. In a Thursday conference call Sanford C. Bernstein biotech analyst Geoffrey Porges said: "Amgen is obviously the big target here."
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