Delivering Biotech Products to the Market
The beginning of the latest era of biotechnology can be traced back to the mid-1970s with the development of genetic engineering and hybridoma technology. Over the years, advances in both molecular science and technology have enabled scientists to clone genes, express the corresponding protein in bacterial, insect or mammalian cells and for engineers to purify the resulting product. These biotechnological innovations have helped generate a vast number of therapeutic biological products to intervene in diseases and have led to the foundation of the biotechnology industry. The biotechnology industry has thus grown substantially since the first biopharmaceuticals were initially approved in the 1980s.
Confronted with competitive pressures of limited finances and tight timelines, biotech companies worldwide are racing to bring new biological products to market. Once the recombinant DNA expression system for a new drug is defined and a patent application submitted, it is essential for the company to complete its process development and obtain regulatory approval as soon as possible. Such timely approval and marketing of drugs are crucial in order to gain a substantial market share and to secure a good profit margin. If the product is not delivered timely to the market, the company may lose its first-mover advantage to competitive products, which can result in a considerable loss of sales revenue and market share. In addition, the product lifetimes of biopharmaceuticals are shrinking due to intense competition, which leads to reduced earnings in a time of increased licensing, operating, and product testing costs. It is therefore imperative that the biopharmaceutical companies accelerate its products’ time-to-market while reducing its corresponding costs of development in order to maintain attractive and sustainable economic returns.
To achieve this in the midst of current market competition, iBioPharm Consulting is hence positioned to assist you in addressing your various needs throughout the end-to-end lifecycle of your product lines - right from the development stage through to the commercialization of the product. For further information, please kindly contact info@ibiopharm.com.
