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news.Massachusetts-based Biogen Idec, which discovers, develops, manufactures and markets biological products for the treatment of serious diseases with a focus on neurological disorders, intends to expand into biogenerics.
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Biogen Idec aims to cash in on the major role that biosimilars will play in health care in the near future.
According to a US Congressional Budget Office projection biosimilars could save $6.6bn by 2018 in health-care costs.
Biogen Idec CEO George Scangos said the company has the biological manufacturing expertise and capacity in the US and European Union to develop biosimilars, and that they will be a meaningful revenue stream for the company in a few years.
He said Biogen Idec may consider partnering to help market the medicines.