Biotech sector: Drugs and their sales.
The biotech sector is reinforcing for change this year as many "Bio generic" drugs are being produced in the market. Sidney Wolfe, the director of health research group, was in the opinion thatBiotech drugs are one of the most expensive drugs.
US healthcare reform passed a law last year wherein biotech drugs were given a twelve year period of market, which would result into selling of generic versions. Chris Viebacher, CEO at French drugmaker sanofi said that some biotech drugs are more vulnerable to competition as compared to others. About eight years ago, the European Union passed a law creating a mechanism for the approval of generic biotech drugs. A recent approval of human use for the drug Lupus Drug was received by a biotech firm, Human Genome Sciences.