Turkey – Celltrion’s ‘Remsima’ receives Turkey MOH approval

July 18, 2014 2:03 pm0 commentsViews: 114

Source : Google

Turkey is the world’s 16th largest pharmaceutical market with a TNF-α inhibitor treatment market size of approximately USD 150 million.

Celltrion is expected to market Remsima within the fourth quarter of this year with partner company Mustafa Nevzat.

Celltrion announced today that the Ministry of Health in Turkey (MoH) has granted marketing approval for RemsimaTM (infliximab). Celltrion has received approval from the MoH for all applied indications, which are for the treatment of rheumatoid arthritis, ankylosing spondilitis, Crohn’s disease, ulcerative colitis, psoriasis and psoriatic arthritis.

Last April 9th of 2013, Celltrion completed and submitted the application for RemsimaTM approval to the Turkish Medicines and Medical Devices Agency and after one year and three months, Celltrion received official approval from the MoH. RemsimaTM will be launched into the Turkish market beginning in the fourth quarter of this year, after administrative procedures are taken care of.

Turkey’s domestic pharmaceutical sector has a double-digit annual growth rate on average and is one of the fastest growing emerging markets. Turkey is the 6th largest pharmaceutical market in Europe and the 16th largest pharmaceutical market in the world. Estimated market size is approximately USD 150 million in terms of TNF-α inhibitor sales.

In addition, original drug versus generic drug ratio in 2010 was 48.6% to 51.4%. Fast market uptake of RemsimaTM is expected as Turkey is one of the generic preferred markets. Celltrion will be marketing RemsimaTM in Turkey through its partner company MN Pharmaceuticals (Mustafa Nevzat Pharmaceuticals), with a history of over ninety years as a leading biopharmaceutical company in Turkey. In 2012, MN was acquired by the global pharmaceutical company Amgen.

[Source: firstwordpharma]

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