Melbourne-based pharma HalcyGen (ASX: HGN) is in a good position to capitalise on the booming pharmaceuticals market, which is predicted to grow to nearly AUD$778 billion this year, the company said today.

In a presentation to a BioMelbourne Network CEO forum today, Halcygen CEO Dr Roger Aston said the company was well placed to take advantage of the changing trends in the pharmaceuticals market, due to HalcyGen's focus on supergenerics - proprietary modifications of generic copies of brand-name drugs.

These supergenerics contain the same active ingredient as the drugs they are modelled on, but improvements have been generally made to the dosage size, the formulation or the route through which they are administered.

For example, HalcyGen's key product, SUBA-Itraconazole Halcygen, requires half the dosage and causes significantly less severe side effects as the leading generic copy, Aston said.

Supergenerics are generally sold at a premium, due to the proprietary improvements. HalcyGen estimates that the typical product price-range of supergenerics is between $50-$500, compared to the typical price-range of $5-$50 for generics.

Supergenerics also obtain government approval up to five times faster than new drugs, as they are based on proven active ingredients, he said.