As published in Pharma's Almanac Q3 2016.
Offering potential exclusivity and access to larger markets, reformulation efforts can prove extremely valuable to both pharmaceutical and biopharmaceutical manufacturers. With reliable CDMO support, this value can be developed in a cost-effective manner and with minimal inconvenience, while reducing the impact of patent loss.
With considerable room for growth in emerging markets, the surge in biopharmaceutical drug development and approvals, as well as merger and acquisition activities that are helping to further existing expertise, has left the pharmaceuticals market poised for growth. At an expected compounded annual growth rate (CAGR) of 4% to 7%, the market is predicted to reach $1.3 trillion in 2018, but challenges still exist as traditional pharmaceuticals are rapidly approaching or have already reached the patent cliff and biopharmaceuticals are beginning to experience competition from biosimilars.