As biosimilar competition nears for Roche and its subsidiary, Genentech, a new WARN notice in the state of California disclosed that Genentech is set to lay off 223 employees from a local plant beginning August 31, 2018.
As biosimilar competition nears for Roche and its subsidiary, Genentech, a new WARN notice posted in the state of California disclosed that Genentech is set to lay off 223 employees from a local plant beginning August 31, 2018.
“The success of our business depends on our ability to respond to change, appropriately allocate resources and manage our operations efficiently,” said a Genentech spokeswoman in a statement. The layoffs will be “across different departments” and will continue into November.
These cuts come less than a year after the company laid off 130 workers at its biologics plant in Vacaville, California. “We are making this organizational change in response to the current and anticipated production requirements, the volumes required for some of our new medicine formulations, and shift schedule adjustments,” said the company at the time.
Roche’s top selling cancer medications rituximab (Rituxan), trastuzumab (Herceptin), and bevacizumab (Avastin) together brought in the company more than $20 billion in 2017. The high earnings have identified the drugs as valuable targets for biosimilar developers.
Although the FDA has approved a trastuzumab biosimilar (Ogivri) and bevacizumab biosimilar (Mvasi), neither have yet reached the market. The United States came close this year to having an approved rituximab biosimilar, however, the drug developer (Sandoz) was issued a Complete Response Letter from the FDA in May.
Conversely, the European market has seen approvals and marketing efforts of biosimilars for all 3 reference products; including 1 biosimilar option for Avastin, 4 Herceptin biosimilars, and 6 Rituxan biosimilars (1 molecule marketed under 4 trade names, and another molecule marketed under 2 trade names).
Partnering for Biosimilar Security: India's Role in US Health Care Savings, Supply Chain Stability
May 9th 2024As Indian pharmaceutical companies supplied 4 of every 10 prescriptions in the US in 2022, generating $1.3 trillion in health care savings, a new IQVIA report highlights concerns about supply chain risks and advocates for partnerships to bolster biosimilar security and overall supply chain resilience.
Exploring the Biosimilar Horizon: Julie Reed's Predictions for 2024
February 18th 2024On this episode of Not So Different, Julie Reed, executive director of the Biosimilars Forum, returns to discuss her predictions for the biosimilar industry for 2024 and beyond as well as the impact that the Forum's 4 new members will have on the organization's mission.
Biosimilar Business Roundup for October 2023—Podcast Edition
November 5th 2023On this episode, we discuss the biggest news to come out of October 2023, including 3 regulatory approvals, 2 complete response letters, and new data and industry insights that have the potential to impact the entire US biosimilar industry.
Global Biosimilar Market Projected to Reach $1.3 Trillion by 2032
April 11th 2024The global biosimilar market is projected to surge from $25.1 billion in 2022 to approximately $1.3 trillion by 2032, with a compound annual growth rate of 17.6%, driven mainly by the increasing prevalence of cancer and the cost-effectiveness of biosimilars, as outlined in a report by Towards Healthcare.