Launch of Key Biosimilar Medicine To Help Save Healthcare Budgets
Mar 31, 2016Toronto, ON – Apobiologix®, a Division of Apotex Inc., today launched Grastofil®, its first subsequent entry biologic (SEB) approved in Canada. SEBs are referred to as biosimilars in some other markets. Grastofil® is a biosimilar of Neupogen®. The approval of Grastofil® represents a significant advancement toward healthcare savings for all public and private payers. Grastofil® is used to treat neutropenia, a lack of certain white blood cells caused by cancer, bone marrow transplant, receiving chemotherapy or by other conditions. This market is currently worth over $130 million.
The present drug spend on biologic medicines in Canada is valued at $4.6 billion. In less than a decade, spending on biologics has increased by more than 200%. While biologics represented only 1% of claims in 2015, they accounted for nearly 21% of total prescription drug spending. "The successful introduction of biosimilars represents an opportunity for the sustainability of our healthcare system by increasing competition, reducing costs and allocating savings to help fund other much-needed therapies. Grastofil® is Apobiologix'® first step in helping achieve this," stated Steve Lydeamore, Apobiologix President.
Canadian regulators were early adopters in identifying the need for a regulatory framework for approval of SEBs and released clear guidelines in March 2010. Health Canada has been supportive of Apobiologix'® efforts as we progress our development program and submit applications to the Biologics and Genetic Therapies Directorate (BGTD).
The Apobiologix® launch of Grastofil® is a natural extension of Apotex's 42 year history in Canada providing quality, affordable medicines. Founded in 1974, Apotex has grown to over 6,100 employees in Canada and 8,000 globally with exports to 115 countries. Apotex is the largest R & D company in the Canadian pharmaceutical industry including investments of $330M in the development of biosimilars to date with significant further expenditures planned.
Neupogen® is a registered trademark owned by Amgen Inc.-30-
Jordan Berman
Global Director, Corporate Communications
Apotex Inc.
Direct: 416-401-7487
Mobile: 647-272-2287
Email
Media inquries
Have a question for our media team? Fill out our inquiries form, and we’ll get back to you as soon as possible.
Latest news
-
May 20, 2025
Apotex publishes 2024 Sustainability Report, highlighting progress and achievements in environmentally sustainable manufacturing, responsible business practices, and social impact
Apotex's 2024 Sustainability Report underscores our commitment to advancing health and unlocking new possibilities through partnerships, while championing sustainability and responsible business practices. "As we continue to execute our Journey of Health growth strategy, our focus on sustainability ensures that we are meeting the needs of patients, physicians, and pharmacists, and contributing positively to the environment and society. This report reflects our dedication to these values, and to transparency, accountability, and long-term value creation," said Allan Oberman, President & CEO, Apotex.
-
May 13, 2025
Apotex announces grant to Foundation for Mother and Child Health to promote maternal health with CAD $100,000 in annual funding
Apotex Inc. ("Apotex"), the largest Canadian-based pharmaceutical company, yesterday announced a grant through the Apotex Global Health Access Fund to the Foundation for Mother and Child Health ("FMCH") in Mumbai, India to support programs that promote maternal health and address child malnutrition.
-
May 13, 2025
Apotex announces $100,000 in annual funding to advance maternal and infant health in Mexico
Mexico City - Apotex Inc. ("Apotex"), the largest Canadian-based pharmaceutical company, today announced a grant through the Apotex Global Health Access Fund to Vida y Familia México, I.A.P. ("VIFAC") to support programs that promote maternal and child health and address health disparities.