June 1, 2018
For Immediate Release
APOTEX BUILDS MOMENTUM IN CANADA'S BIOSIMILAR MARKET AFTER WORLD'S FIRST APPROVALHealth Canada Leads the Way by Approving the First-Ever Pegfilgrastim Biosimilar in any Highly Regulated World Market
Toronto, ON, June 1st - 2018 - Apobiologix, a division of Apotex Inc., further bolstered its leadership in Canada's growing biosimilar market. The company that is focused on the development of biosimilars for global markets, recently received approval from Health Canada for Apobiologix's latest product addition, Lapelga™.
The recent Health Canada approval is a noteworthy success for Apobiologix as this is the first-ever pegfilgrastim biosimilar approved in any highly regulated market worldwide.
Apobiologix successfully launched its first product, Grastofil (filgrastim) in Canada in March, 2016. Since that time, Grastofil has delivered significant cost savings to the Canadian healthcare system.
"Biosimilars provide an opportunity for the sustainability of global healthcare systems by increasing competition and reducing costs, and very importantly, giving patients increased access to highly effective and often lifesaving biological drugs," said Dr. Klaus Martin, President, Apobiologix.
Biosimilars are designed to be similar to an existing biologic drug. Biologic drugs come from living organisms or from their cells and are often made using biotechnology. Lapelga™ encourages the body's production of white blood cells which helps to fight infection in patients undergoing certain cancer treatments, such as chemotherapy and radiation.
According to Evaluate Pharma 2017 and IMSQuintiles, 2017, IQVIA "2018 and beyond" report, the global biologics market is expected to reach more than $325 billion in 2022 with 13 of 20 top-selling drugs being biologics.