RICHMOND, Va., April 22, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics (FOBs) and biopharmaceuticals, announced today that Geoffrey Allan, Ph.D., CEO of Insmed, will present at the Center for Business Intelligence (CBI) conference on FOBs, on April 29, 2008 at 2:15 PM Eastern Time in Arlington, Virginia.
The conference, entitled "Evaluate the Legislative, Economic and Scientific Implications of the Industry Debate on: Biosimilars and Follow-On Biologics," will be held at the Doubletree Hotel Crystal City in Arlington, Virginia, and will run from Monday, April 28 through Tuesday, April 29. The conference will bring together corporate, regulatory, financial, and legal experts in the field of FOBs. Dr. Allan will discuss Insmed's comprehensive portfolio of FOBs, and the Company's initiatives aimed at helping garner awareness of the need to establish a regulatory pathway for FOBs in the U.S. so that patients can be provided greater choice through access to these important medicines. His presentation will be entitled, "The Promise of Follow-On Biologics: The Need to Match Policy with Capability and Demand." Dr. Allan's presentation will be available on Insmed's website at www.insmed.com following the conference.
The Follow-on Biologics Market
According to published reports, an estimated $10 billion worth of biologic drugs are expected to come off patent by 2010, with an additional $10 billion by 2015. FOBs would provide safe and effective therapies at a reduced cost following the expiration of the original product's patent. A recent econometric study commissioned by Insmed and conducted by economist Dr. Robert J. Shapiro, former Under Secretary of Commerce in the Clinton Administration, found that "...generic versions of the top 12 categories of biologic treatments with patent protections that have expired or that are due to expire in the near future could save Americans $67 billion to $108 billion over 10 years and $236 billion to $378 billion over 20 years."
Insmed Inc. is a biopharmaceutical company with unique protein process development and manufacturing experience and a proprietary protein platform aimed at niche markets with unmet medical needs. For more information, please visit www.insmed.com.
This release contains forward-looking statements which are made pursuant to provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements in this release, including statements relating to planned clinical study design, regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development of product candidates, the FDA may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our entrance into the follow on biologics market may be unsuccessful, our common stock could be delisted from the Nasdaq Capital Market and other risks and challenges detailed in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2007. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.