No biotech copycat drug lift off before 2017: Novartis CEO

[riky]

No biotech copycat drug lift off before 2017: Novartis CEO

<p><a href="http://news.yahoo.com/no-biotech-copycat-drug-lift-off-2017-novartis-165837789--finance.html"><img src="http://l.yimg.com/bt/api/res/1.2/fJRF.fxk6MUK_x9VP_ig0w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-08-25T165837Z_1_LYNXMPEA7O0PJ_RTROPTP_2_NOVARTIS-CEO.JPG" width="130" height="86" alt="Jimenez CEO of Novartis gestures during Reuters interview in Basel" align="left" title="Jimenez CEO of Novartis gestures during Reuters interview in Basel" border="0" /></a>Swiss drugmaker Novartis AG does not expect copycat versions of biotech drugs to play an important role in the healthcare system for another three to five years, its chief executive said on Monday. Novartis' generics unit Sandoz is the No. 1 player in the field of copycat medicines, known as biosimilars because they are copies of biotech medicines made from living cells that cannot be replicated exactly. Chief Executive Joe Jimenez said biosimilars generated about$500 million in sales for Novartis and were growing at a rate of about 20 percent per year.</p><br clear="all"/>

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