Is the End Near?
Follow-on biotech products will appear first in Europe, where 
“biosimilar” growth hormone is already approved. Next year, 
Amgen and J&J could encounter competition
in Europe for their big-selling Erythropoietin anemia 
treatments. When competition reduces prices in Europe, pressure
 will grow in the US to allow follow-on biologics, too.

   PATENTS                                               Product Percent of
Expiration Date(s)                                 Recent Sales Company
    U.S. EUROPE   Drug      Brand Company / Ticker Price (bil) Revenues Condition Treated
’01-2007 2008 Interferon Beta-1b Betaseron Novartis / NVS $56.81 $0.20 0.6% Multiple Sclerosis
’01-2007 2008 Interferon Beta-1b Betaferon Schering AG / SHR 109.30 1.11 28.4 Multiple Sclerosis
2002 Alpha Interferon Intron A             Schering Plough / SGP 19.34 0.29 3.0 Cancer
2002 Human Insulin Humulin                 Eli Lilly / LLY 50.76 1.00 6.9 Diabetes
’02-2012 ’03-2005 Interleukin - 2 Proleukin Novartis / NVS 56.81 0.12 0.4 Cancer, Hepatitis
’03-2008 Growth Hormone Humatrope           Eli Lilly / LLY 50.76 0.41 2.8 Growth Deficiency
’04-2015 2004 Erythropoietin Epogen         Amgen / AMGN 67.10 2.87 23.0 Anemia
2004 Erythropoietin Procrit, Eprex          J & J / JNJ 60.14 3.32 6.7 Anemia
2005 Growth Hormone Protropin               Genentech / DNA 75.93 0.38 5.7 Growth Deficiency
2005 Human Insulin Actrapid/Insulatard      Novo Nordisk / NVO 63.65 2.59 44.4 Diabetes 
’05-2013 2006 G-CSF Neupogen                Amgen / AMGN 67.10 1.22 9.8 White Blood Cell Insufficiency
’05-2015 ’03-2009 TPA Activase              Genetech / DNA 75.93 0.27 3.4 Heart Attack, Stroke
’07-2017 2015 T Cell Deactivation Amevive   Biogen Idec / BIIB 45.35 0.05 2.0 Psoriasis
’08-2013 2012 Interferon Beta-1a Avonex     Biogen / BIIB 45.35 1.54 64.0 Multiple Sclerosis
’09-2012 2010 TNF Antagonist Enbrel         Amgen / AMGN 67.10 2.60 20.9 Arthritis, Crohn’s
’09-2015 2000 Growth Hormone Nutropin       Genentech / DNA 75.93 0.37 5.6 Growth Deficiency
’13-2019 Imiglucerase Cerezyme              Genzyme / GENZ 58.17 0.93 34.0 Gaucher Disease
2015 ’04-2006 Human Fertility Hormone Gonal F Serono / SRA 16.52 0.55 21.2 Infertility

Sources: FDA Orange Book; Sanford C. Bernstein; ICICI Securities; Westwind Partners; Company Reports