Insmed taps Bill Thomas to advise on follow-on legislation

7/17/2008

RICHMOND, Va. Insmed, the self-proclaimed first U.S. company to successfully demonstrate bioequivalence for a follow-on product has chosen Bill Thomas, former chairman of the House Ways and Means Committee as a strategic advisor to assist with the company’s efforts to bring its follow-on drugs to the market.

Thomas played a key role developing important health legislation during his 28 years of service in the House of Representatives, culminating in the passage of the Medicare Modernization Act of 2003, which created Medicare Part D prescription drug coverage for seniors.

“During my time in Congress, I helped lay the groundwork to allow biologic competition from follow-on biologics. I am excited to partner with Insmed to continue that fight,” said Thomas.

“Biotechnology represents the future of modern healthcare in America, but as is the case across all industries in our economy, competition will foster innovation and benefits for consumers,” Thomas continued. “Insmed is walking the walk, having already produced data showing bioequivalence between one of their products and a pioneer drug. Given the rising costs of healthcare, Congress needs to pass legislation creating a pathway for follow-on biologics.”

This announcement follows Insmed’s release of data last week demonstrating bioequivalence between INS-19 and Amgen’s Neupogen in Phase I clinical trials. In the coming months, Insmed will seek FDA approval to begin Phase III clinical trials for INS-19 and also initiate Phase I trials for Insmed’s second follow-on biologic product, INS-20, a generic form of another Amgen drug, Neulasta. The two biologics, which are used during chemotherapy, represented combined 2007 worldwide sales of over $4 billion.

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