With us today on the call are Bill Sibold, Senior Vice President, Head of Multiple Sclerosis. Bill actually joined Genzyme in 2011. He is responsible for Genzyme's MS franchise as the company prepares to launch 2 products. Bill knows the MS field very well having spent a number of years at Biogen Idec in various leadership positions for MS products.And we've got Dr. Mike Panzara, Therapeutic Area Head of Multiple Sclerosis. Mike joined Genzyme in 2009. He is, first and foremost, responsible for clinical development strategy and on oversight of the alemtuzumab program. Prior to joining Genzyme, Mike was Chief Medical Officer for neurology with Biogen Idec, where he was responsible for the development of late-stage neurology products. We're also obviously very pleased to have 2 key opinion leaders with us on the call today. Both have tremendous experience in MS and have been involved in the CARE-MS program. Dr. Alasdair Coles from the University of Cambridge in the U.K. Dr. Coles received his degrees from the University of Oxford, London and Cambridge. He is currently a university lecturer in neuroimmunology at the University of Cambridge and an honorary Consultant Neurologist at Addenbrooke's and Peterborough hospitals. Dr. Coles has researched the effects of alemtuzumab in MS since 1994 with Professor Alastair Compston. Dr. Jeffrey Cohen at the Cleveland Clinic. Dr. Cohen has worked with the Cleaveland Clinic's Mellen Center for MS Treatment and Research since 1994. Dr. Cohen's has the last clinical practice devoted primarily to the care of patients with MS and related disorders. In addition, he is Director of the Experimental Therapeutics Program and has been involved in various capacities in a large number of clinical trials developing new therapies for MS. And last but not least, we also have the pleasure to have Dr. David Meeker, CEO of Genzyme with us on the call. With that, let me now turn the call over to Bill.
William J. SiboldThank you, Sébastien. Welcome, everyone, and good afternoon or good morning depending where you are. It's a pleasure to be here and very appropriate that we're having this call from AAN, which is the largest neurology meeting in the world. There are over 12,000 attendees at this meeting. And many of them have a interest in, obviously, in broad neurological conditions but MS is something which a lot of the attendees are very interested in. So it's an exciting time for us to be having -- presenting such [indiscernible]. I'm going to cover a few things. I'll talk about the MS market, and it's a large market and how we are going to compete in that market. And really with the right products and approach, we believe that we cannot only compete but be leaders in the market. And finally, finish up with the progress that has been made and what we are looking forward to. So the global MS market is significant and expected to grow. Based on actual reported company sales in 2011, the market was $12.5 billion, and this is expected to grow into 2016 and become an almost $18 billion market. This is driven by a couple of things, specifically the still high unmet need that exists and also, new entrants that will be coming in to the market. MS itself is a very prevalent and serious disease. There are approximately 2.1 million patients worldwide, and it tends to be a disease that is prevalent in young women. In fact, it's about a 2:1 ratio, female to male prevalence. And as I said, it's a very significant serious diseases. The life expectancy is 5 to 10 years lower for people with MS. And the disease itself has a very profound impact on one's life, certainly affecting their family, social and professional lives.
Next slide. The market is still dominated by the ABCRE or the injectable products, and I'll go through those. Avonex, Betaseron, Rebif and Extavia are interferon, and they represent over 50% of the market as a class. When you put Copaxone in, which is the final ABCRE, it has over 30% share of the market. So it is actually a quite concentrated market with 5 products. Now all of these are injectables, and they are injected either daily or up to once per week, and all offer moderate efficacy. So this segment represents an opportunity for new and emerging therapies and really an opportunity for some fragmentation of that market to begin.Read the rest of this transcript for free on seekingalpha.com