Based in Highland Mills, New York, Maher Ishak owns Woodbury Pharmacy, which offers patients a full range of over-the-counter medications, prescriptions, and health related products. Dedicated to meeting Woodbury Pharmacy’s customers’ needs, Maher Ishak stays well informed of trends in the pharmaceutical industry. One major development is growth in biologic and biotech medicines, which, unlike traditional chemical drugs, are composed of complex living matter such as yeast, bacteria, and human cells.
Over the past 10 years, the FDA has approved some 300 biologic drugs, with nearly 1,000 more in the approval pipeline. The drugs in this expanding market may be used to treat conditions as varied as cancer and auto-immune issues such as rheumatoid arthritis. Many of the largest recent industry transactions, including an April 2014 asset swap between Novartis AG and GlaxoKlineSmith plc, have focused on biologics and research clusters where they are produced, such as Speke, Liverpool, in the UK. Products on the horizon include a female infertility drug that could be competitive in a $1.5 billion worldwide market.