Aprogen participated in a global partnering event and confirmed the success potential of its biosimilars.
On the 28th, Aprogen announced that it confirmed the competitiveness of its biosimilar business and the high success potential of its immuno-oncology bispecific antibodies at ‘2023 BioEurope’. At this event, the company received great responses from overseas companies through a conference oral presentation, individual meetings with more than 30 biosimilar distributors, and numerous big pharma companies.
Companies participating in the ‘BioEurope’ conference upload their company introduction materials on the website 2 to 3 weeks before the event starts. Other participating companies review these materials and request individual meetings, which proceed once accepted by the target company.
A company official said, “When we decided to participate in this conference, we initially planned to request meetings mainly with major biosimilar distributors and new drug companies. However, contrary to our expectations, more than 170 companies requested meetings after reviewing our materials, and due to limited schedules, we had to accept only about 30 of them, showing the intense interest.”
Among the biosimilar distribution companies with which Aprogen held individual meetings were companies that distributed products of leading domestic biosimilar firms as well as companies distributing biosimilar products of global pharmaceutical companies. A representative of one such company said, “Many companies want to distribute biosimilars, but very few can supply products at prices competitive enough to challenge the market leaders who dominate the market, so there is a lot of interest in Aprogen.”
A distribution industry official explained, “Companies without biosimilar distribution experience evaluate the biosimilar market as a red ocean. However, companies with a high understanding of the biosimilar market or with biosimilar distribution experience unanimously say that the red ocean is limited to current distribution prices, and that with price competitiveness, it is a blue ocean where the market can be sufficiently expanded while generating significant profits.”
Meanwhile, the company plans to continue specific discussions for partnering mainly with companies that have strong distribution networks in major Western European countries such as France, Germany, and the United Kingdom among those with whom individual meetings were held.
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