Icotinib (brand name Conmana) has been approved by Chinese regulators in 2011. Icotinib is an oral EGFR tyrosine kinase inhibitor that is indicated as a treatment for non-small cell lung cancer. Conmana is a me-too drug, and its clinical trial results were more or less in line with first-gen members of the class.
However, it is reported that its development costs ($20-$30 million) were only a small fraction of its big pharma competitors (up to $1 billion), and development time, from start to finish, was a short eight years. As a result, Chinese company who developed it can offer its drug at a price that undercuts the cost of its big pharma competition by 33%.
Been in this industry for a long time now and I truly believe the pharma majors could take few pointers from the generic companies with respect to improving their drug/ product development processes. It's not only the patient but,they stand to benefit too if costs are curtailed isn't it ?
Pharmaceutical Manufacturing, Continuous Improvement and Business Transformation Consultant