Biosimilars, also called as follow-on biologics, are the approved biological products that are very similar to another biological drug manufactured by another company. They are cost-effective and help in prevention and treatment of different diseases like cancer, diabetes, autoimmune diseases, and infectious diseases, among others. The global biosimilars market is expected to witness stellar growth over the coming years since it has the ability to provide good-quality products at lower costs, thereby reaching the patient population that cannot afford high-cost treatments.
Illumina is expected to acquire Pacific Biosciences (PacBio) for approximately USD 1.2 billion (at a rate of USD 8 per share). This will combine Illumina’s short-read technologies with PacBio’s long-read sequencing technologies to address complex genomic applications and accelerate genomic discovery in a cost-effective manner.