Novartis CEO predicts a looming biosimilars boom

Novartis CEO Joe Jimenez

Novartis' ($NVS) big generics operation at Sandoz has been one of the leaders in the field of biosimilar development. So when the chief lays out a timetable on the adoption of these long-awaited knockoffs of some of the industry's biggest biologics, FierceBiotech listens. In an interview with Reuters, CEO Joe Jimenez said the company was earning about $500 million a year from biosimilars, with a 20% annual growth rate. Doing the math, Jimenez isn't looking for much impact relative to the overall size of the company in the next 2-3 years. But wait 5 years, he says, and you'll see a blockbuster market delivering big gains. The key, he tells Reuters, is a slate of big approvals expected in 2017, 2018 and 2019, which will push the company to an "inflection point" in the biosimilar business. Story

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