Utilizing our core technology, Pfenex Expression Technology for recombinant protein production, we are able to rapidly develop and produce high-quality therapeutics.
The Pfenex product pipeline currently contains seven biosimilars and one therapeutic equivalent candidate. The 2017 global biologics market is anticipated to represent over $221 billion in product sales with virtually the entire market comprised of branded innovator products. We believe the emerging biosimilar market will be fueled by the large number of blockbuster products facing patent expiry in the next several years, abbreviated regulatory pathways for the approval of biosimilars, and a mandate for lower drug costs by governments and private payers.
Our lead products include PF582, a biosimilar candidate to Lucentis (ranibizumab) and PF708, a therapeutic equivalent to Forteo (teriparatide). Lucentis, marketed by F. Hoffmann-La Roche and Novartis AG, for the treatment of retinal diseases, achieved approximately $3.2 billion in 2016 global sales. Forteo, marketed by Eli Lilly and Company, for the treatment of high-risk fracture patients, achieved approximately $1.5 billion in 2016 global sales.
Our wholly owned candidates include PF529, a biosimilar candidate to Neulasta (pegfilgrastim) marketed by Amgen for the treatment of chemotherapy induced neutropenia that achieved global sales of $4.6 billion in 2016. We are also developing PF708, a therapeutic equivalent to Forteo (teriparatide), for the treatment of high-risk fracture patients. In addition, PF690, a biosimilar candidate to Oncaspar (pegaspargase), PF530, a biosimilar candidate to Betaseron (interferon beta-1b),) and PF688, a biosimilar candidate to Cimzia (certolizumab-pegol) are also in development.
We also have a product partnership with Strides Acrolab, a specialty pharma company located in Bangalore, India. This includes PF444, a biosimilar candidate to human growth hormone and PF694, a biosimilar candidate to Pegasys (peginterferon alpha-2a).
See our complete product pipeline below.