Who exactly are the biotech industry's biggest players? Everyone knows that Amgen and Genentech are dominant in the field, but a host of other companies also compete for a slice of the global biotech market . Sales of biologics amounted to $75 billion in 2007--just over 10 percent of the estimated $712 billion spent on prescription drugs last year. The combined marketshare of the top ten companies made up the bulk of those sales, coming to $61.4 billion.
There are certainly a number of drug developers, large and small, that hope to elbow their way on to this list. Biologic drugs are (for the time being, at least) insulated from generic competition, and many drug developers say they're putting more focus on biologics in the coming years. Sales of biotech drug grew 12.5 percent in 2007--twice as fast as the pharmaceutical market. In the face of generic competition and other market pressures, companies are looking for strategies to ensure their futures. Biologics offer an opportunity for growth that can't be ignored.
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