BioCad Scores Another Victory In mAb Biosimilars With Marketing Authorization For Bevacizumab
ST PETERSBURG, December 9, 2015 /PRNewswire/ --
A leading Russian biopharmaceutical company BIOCAD obtained a Marketing Authorization for the bevacizumab biosimilar today.
The Russian MoH has approved the new medicine on November 25, 2105.
Bevacizumab is one of the most expensive therapeutic proteins reimbursed by the Russian government, and is included in the federal list of essential drugs, which regulates pricing strategy in the domestic market and determines the maximal cost of medicinal products.
In Russia the official registered price for 400 mg of the originator product by F. Hoffmann-La Roche Ltd, is RUR 61 536 without the VAT, which is equal to $ 887 at today's exchange rate. BIOCAD's product will be 30 % less expensive and will be available at the price RUR 43 075 or $ 621.
Due to the current exchange rate and ruble weakening the dollar prices rained down. If the cost of original bevacizumab could be calculated in accordance with the exchange rate by the time of the first registration in Russia in 2009, the price would be 2034$[1]. However today's rate turned original product and biosimilar to the cheapest bevacizumab among Europe and US.
Bevacizumab biosimilar by BIOCAD is expected to capture rapidly a lion share from the original product in the very first year. Patients in Russia will have access to the new biosimilar by Q1 2016.
BIOCAD's pricing strategy for bevacizumab biosimilar opens up a new perspective for reconsidering the cost/benefit ratio of anti-vascular endothelial growth factor (VEGF) therapy and increases the access to the medicine.
1. Exchange rate on the 21/12/2009: 1$=30,24
Irina Kenyukhova
Head of PR Department
Phone +7(812)3804933, ext. 632
E-mail kenyukhova@biocad.ru
SOURCE BIOCAD
A leading Russian biopharmaceutical company BIOCAD obtained a Marketing Authorization for the bevacizumab biosimilar today.
The Russian MoH has approved the new medicine on November 25, 2105.
Bevacizumab is one of the most expensive therapeutic proteins reimbursed by the Russian government, and is included in the federal list of essential drugs, which regulates pricing strategy in the domestic market and determines the maximal cost of medicinal products.
In Russia the official registered price for 400 mg of the originator product by F. Hoffmann-La Roche Ltd, is RUR 61 536 without the VAT, which is equal to $ 887 at today's exchange rate. BIOCAD's product will be 30 % less expensive and will be available at the price RUR 43 075 or $ 621.
Due to the current exchange rate and ruble weakening the dollar prices rained down. If the cost of original bevacizumab could be calculated in accordance with the exchange rate by the time of the first registration in Russia in 2009, the price would be 2034$[1]. However today's rate turned original product and biosimilar to the cheapest bevacizumab among Europe and US.
Bevacizumab biosimilar by BIOCAD is expected to capture rapidly a lion share from the original product in the very first year. Patients in Russia will have access to the new biosimilar by Q1 2016.
BIOCAD's pricing strategy for bevacizumab biosimilar opens up a new perspective for reconsidering the cost/benefit ratio of anti-vascular endothelial growth factor (VEGF) therapy and increases the access to the medicine.
1. Exchange rate on the 21/12/2009: 1$=30,24
Irina Kenyukhova
Head of PR Department
Phone +7(812)3804933, ext. 632
E-mail kenyukhova@biocad.ru
SOURCE BIOCAD