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Biopharmaceuticals are complex medicines made from living cells or organisms. They advance more treatment options for patients, some of whom suffer from untreated or undertreated conditions. They have the potential to deliver precise and personalized treatment.Together with creating original biologic medicines, Teva is investing in biosimilars. These are highly similar versions of reference biological treatments.A focus on biosimilars is a natural progression for Teva following our role in the development of the generic medicine industry over the past 40 years. They combine our strength in generics with our knowledge of complex medicine.Biosimilars offer value-based treatment that is potentially less expensive than the originator biologic but similarly effective. For example, it is estimated that the use of biosimilars will save the US $54 billion over 10 years.
Teva has 5 biopharmaceuticals on the market today. In addition, we have approximately 20 original biologic and biosimilar programs in various phases of development, from discovery through to clinical and regulatory stages. Many of these treatments will be produced in our new $500 million state-of-the-art biopharmaceutical plant in Ulm, Germany.
The benefit that biopharmaceuticals will bring to patients is what inspires us as we invest in this exciting future. This new direction is integral to bringing more treatment options to patients, and supporting our mission to improve lives.
Biopharmaceutical innovation will not take place overnight but we are committed to seeing the impact and results of our investment over the next decade.