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Avastin (Bevacizumab) Biosimilars Industry Research Report 2025

Publisher APO Research, Inc.
Published Aug 16, 2025
Length 147 Pages
SKU # APRC20352512

Description

Summary

According to APO Research, the global Avastin (Bevacizumab) Biosimilars market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.

North American market for Avastin (Bevacizumab) Biosimilars is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

Asia-Pacific market for Avastin (Bevacizumab) Biosimilars is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

Europe market for Avastin (Bevacizumab) Biosimilars is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.

The major global manufacturers of Avastin (Bevacizumab) Biosimilars include Biocad, Biocon, Cadila Pharmaceuticals, Centus, Dr Reddy's, Genentech, Hetero, Kirin Biologics and MAbxience, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Avastin (Bevacizumab) Biosimilars, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Avastin (Bevacizumab) Biosimilars.

The report will help the Avastin (Bevacizumab) Biosimilars manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

The Avastin (Bevacizumab) Biosimilars market size, estimations, and forecasts are provided in terms of sales volume (K Units) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Avastin (Bevacizumab) Biosimilars market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.

Avastin (Bevacizumab) Biosimilars Segment by Company

Biocad
Biocon
Cadila Pharmaceuticals
Centus
Dr Reddy's
Genentech
Hetero
Kirin Biologics
MAbxience
PharmaPraxis
PlantForm
Samsung Bioepis
Sartorius
Amgen
BeiGene
Bayer
TOT BIOPHARM
Henlius
Pfizer
Eli Lilly
Roche
Luye Pharmaceutical
Mylan
Qilu Pharmaceutical
Innovent
Avastin (Bevacizumab) Biosimilars Segment by Type

Cancers
AMD
Avastin (Bevacizumab) Biosimilars Segment by Application

Hospitals
Clinics
Others
Avastin (Bevacizumab) Biosimilars Segment by Region

North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Netherlands
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Southeast Asia
South America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Avastin (Bevacizumab) Biosimilars market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Avastin (Bevacizumab) Biosimilars and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Avastin (Bevacizumab) Biosimilars.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc.), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Avastin (Bevacizumab) Biosimilars manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Avastin (Bevacizumab) Biosimilars by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Avastin (Bevacizumab) Biosimilars in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.

Table of Contents

147 Pages
1 Preface
1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
1.5.1 Secondary Sources
1.5.2 Primary Sources
2 Market Overview
2.1 Product Definition
2.2 Global Market Growth Prospects
2.2.1 Global Avastin (Bevacizumab) Biosimilars Market Size (2020-2031)
2.2.2 Global Avastin (Bevacizumab) Biosimilars Sales (2020-2031)
2.2.3 Global Avastin (Bevacizumab) Biosimilars Market Average Price (2020-2031)
2.3 Avastin (Bevacizumab) Biosimilars by Type
2.3.1 Market Value Comparison by Type (2020 VS 2024 VS 2031) & (US$ Million)
2.3.2 Cancers
2.3.3 AMD
2.4 Avastin (Bevacizumab) Biosimilars by Application
2.4.1 Market Value Comparison by Application (2020 VS 2024 VS 2031)
2.4.2 Hospitals
2.4.3 Clinics
2.4.4 Others
3 Market Competitive Landscape by Manufacturers
3.1 Global Avastin (Bevacizumab) Biosimilars Market Competitive Situation by Manufacturers (2020 Versus 2024)
3.2 Global Avastin (Bevacizumab) Biosimilars Sales (K Units) of Manufacturers (2020-2025)
3.3 Global Avastin (Bevacizumab) Biosimilars Revenue of Manufacturers (2020-2025)
3.4 Global Avastin (Bevacizumab) Biosimilars Average Price by Manufacturers (2020-2025)
3.5 Global Avastin (Bevacizumab) Biosimilars Industry Ranking, 2023 VS 2024 VS 2025
3.6 Global Manufacturers of Avastin (Bevacizumab) Biosimilars, Manufacturing Sites & Headquarters
3.7 Global Manufacturers of Avastin (Bevacizumab) Biosimilars, Product Type & Application
3.8 Global Manufacturers of Avastin (Bevacizumab) Biosimilars, Established Date
3.9 Global Avastin (Bevacizumab) Biosimilars Market CR5 and HHI
3.10 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
4.1 Biocad
4.1.1 Biocad Company Information
4.1.2 Biocad Business Overview
4.1.3 Biocad Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.1.4 Biocad Avastin (Bevacizumab) Biosimilars Product Portfolio
4.1.5 Biocad Recent Developments
4.2 Biocon
4.2.1 Biocon Company Information
4.2.2 Biocon Business Overview
4.2.3 Biocon Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.2.4 Biocon Avastin (Bevacizumab) Biosimilars Product Portfolio
4.2.5 Biocon Recent Developments
4.3 Cadila Pharmaceuticals
4.3.1 Cadila Pharmaceuticals Company Information
4.3.2 Cadila Pharmaceuticals Business Overview
4.3.3 Cadila Pharmaceuticals Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.3.4 Cadila Pharmaceuticals Avastin (Bevacizumab) Biosimilars Product Portfolio
4.3.5 Cadila Pharmaceuticals Recent Developments
4.4 Centus
4.4.1 Centus Company Information
4.4.2 Centus Business Overview
4.4.3 Centus Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.4.4 Centus Avastin (Bevacizumab) Biosimilars Product Portfolio
4.4.5 Centus Recent Developments
4.5 Dr Reddy's
4.5.1 Dr Reddy's Company Information
4.5.2 Dr Reddy's Business Overview
4.5.3 Dr Reddy's Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.5.4 Dr Reddy's Avastin (Bevacizumab) Biosimilars Product Portfolio
4.5.5 Dr Reddy's Recent Developments
4.6 Genentech
4.6.1 Genentech Company Information
4.6.2 Genentech Business Overview
4.6.3 Genentech Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.6.4 Genentech Avastin (Bevacizumab) Biosimilars Product Portfolio
4.6.5 Genentech Recent Developments
4.7 Hetero
4.7.1 Hetero Company Information
4.7.2 Hetero Business Overview
4.7.3 Hetero Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.7.4 Hetero Avastin (Bevacizumab) Biosimilars Product Portfolio
4.7.5 Hetero Recent Developments
4.8 Kirin Biologics
4.8.1 Kirin Biologics Company Information
4.8.2 Kirin Biologics Business Overview
4.8.3 Kirin Biologics Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.8.4 Kirin Biologics Avastin (Bevacizumab) Biosimilars Product Portfolio
4.8.5 Kirin Biologics Recent Developments
4.9 MAbxience
4.9.1 MAbxience Company Information
4.9.2 MAbxience Business Overview
4.9.3 MAbxience Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.9.4 MAbxience Avastin (Bevacizumab) Biosimilars Product Portfolio
4.9.5 MAbxience Recent Developments
4.10 PharmaPraxis
4.10.1 PharmaPraxis Company Information
4.10.2 PharmaPraxis Business Overview
4.10.3 PharmaPraxis Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.10.4 PharmaPraxis Avastin (Bevacizumab) Biosimilars Product Portfolio
4.10.5 PharmaPraxis Recent Developments
4.11 PlantForm
4.11.1 PlantForm Company Information
4.11.2 PlantForm Business Overview
4.11.3 PlantForm Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.11.4 PlantForm Avastin (Bevacizumab) Biosimilars Product Portfolio
4.11.5 PlantForm Recent Developments
4.12 Samsung Bioepis
4.12.1 Samsung Bioepis Company Information
4.12.2 Samsung Bioepis Business Overview
4.12.3 Samsung Bioepis Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.12.4 Samsung Bioepis Avastin (Bevacizumab) Biosimilars Product Portfolio
4.12.5 Samsung Bioepis Recent Developments
4.13 Sartorius
4.13.1 Sartorius Company Information
4.13.2 Sartorius Business Overview
4.13.3 Sartorius Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.13.4 Sartorius Avastin (Bevacizumab) Biosimilars Product Portfolio
4.13.5 Sartorius Recent Developments
4.14 Amgen
4.14.1 Amgen Company Information
4.14.2 Amgen Business Overview
4.14.3 Amgen Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.14.4 Amgen Avastin (Bevacizumab) Biosimilars Product Portfolio
4.14.5 Amgen Recent Developments
4.15 BeiGene
4.15.1 BeiGene Company Information
4.15.2 BeiGene Business Overview
4.15.3 BeiGene Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.15.4 BeiGene Avastin (Bevacizumab) Biosimilars Product Portfolio
4.15.5 BeiGene Recent Developments
4.16 Bayer
4.16.1 Bayer Company Information
4.16.2 Bayer Business Overview
4.16.3 Bayer Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.16.4 Bayer Avastin (Bevacizumab) Biosimilars Product Portfolio
4.16.5 Bayer Recent Developments
4.17 TOT BIOPHARM
4.17.1 TOT BIOPHARM Company Information
4.17.2 TOT BIOPHARM Business Overview
4.17.3 TOT BIOPHARM Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.17.4 TOT BIOPHARM Avastin (Bevacizumab) Biosimilars Product Portfolio
4.17.5 TOT BIOPHARM Recent Developments
4.18 Henlius
4.18.1 Henlius Company Information
4.18.2 Henlius Business Overview
4.18.3 Henlius Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.18.4 Henlius Avastin (Bevacizumab) Biosimilars Product Portfolio
4.18.5 Henlius Recent Developments
4.19 Pfizer
4.19.1 Pfizer Company Information
4.19.2 Pfizer Business Overview
4.19.3 Pfizer Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.19.4 Pfizer Avastin (Bevacizumab) Biosimilars Product Portfolio
4.19.5 Pfizer Recent Developments
4.20 Eli Lilly
4.20.1 Eli Lilly Company Information
4.20.2 Eli Lilly Business Overview
4.20.3 Eli Lilly Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.20.4 Eli Lilly Avastin (Bevacizumab) Biosimilars Product Portfolio
4.20.5 Eli Lilly Recent Developments
4.21 Roche
4.21.1 Roche Company Information
4.21.2 Roche Business Overview
4.21.3 Roche Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.21.4 Roche Avastin (Bevacizumab) Biosimilars Product Portfolio
4.21.5 Roche Recent Developments
4.22 Luye Pharmaceutical
4.22.1 Luye Pharmaceutical Company Information
4.22.2 Luye Pharmaceutical Business Overview
4.22.3 Luye Pharmaceutical Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.22.4 Luye Pharmaceutical Avastin (Bevacizumab) Biosimilars Product Portfolio
4.22.5 Luye Pharmaceutical Recent Developments
4.23 Mylan
4.23.1 Mylan Company Information
4.23.2 Mylan Business Overview
4.23.3 Mylan Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.23.4 Mylan Avastin (Bevacizumab) Biosimilars Product Portfolio
4.23.5 Mylan Recent Developments
4.24 Qilu Pharmaceutical
4.24.1 Qilu Pharmaceutical Company Information
4.24.2 Qilu Pharmaceutical Business Overview
4.24.3 Qilu Pharmaceutical Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.24.4 Qilu Pharmaceutical Avastin (Bevacizumab) Biosimilars Product Portfolio
4.24.5 Qilu Pharmaceutical Recent Developments
4.25 Innovent
4.25.1 Innovent Company Information
4.25.2 Innovent Business Overview
4.25.3 Innovent Avastin (Bevacizumab) Biosimilars Sales, Revenue and Gross Margin (2020-2025)
4.25.4 Innovent Avastin (Bevacizumab) Biosimilars Product Portfolio
4.25.5 Innovent Recent Developments
5 Global Avastin (Bevacizumab) Biosimilars Market Scenario by Region
5.1 Global Avastin (Bevacizumab) Biosimilars Market Size by Region: 2020 VS 2024 VS 2031
5.2 Global Avastin (Bevacizumab) Biosimilars Sales by Region: 2020-2031
5.2.1 Global Avastin (Bevacizumab) Biosimilars Sales by Region: 2020-2025
5.2.2 Global Avastin (Bevacizumab) Biosimilars Sales by Region: 2026-2031
5.3 Global Avastin (Bevacizumab) Biosimilars Revenue by Region: 2020-2031
5.3.1 Global Avastin (Bevacizumab) Biosimilars Revenue by Region: 2020-2025
5.3.2 Global Avastin (Bevacizumab) Biosimilars Revenue by Region: 2026-2031
5.4 North America Avastin (Bevacizumab) Biosimilars Market Facts & Figures by Country
5.4.1 North America Avastin (Bevacizumab) Biosimilars Market Size by Country: 2020 VS 2024 VS 2031
5.4.2 North America Avastin (Bevacizumab) Biosimilars Sales by Country (2020-2031)
5.4.3 North America Avastin (Bevacizumab) Biosimilars Revenue by Country (2020-2031)
5.4.4 United States
5.4.5 Canada
5.5 Europe Avastin (Bevacizumab) Biosimilars Market Facts & Figures by Country
5.5.1 Europe Avastin (Bevacizumab) Biosimilars Market Size by Country: 2020 VS 2024 VS 2031
5.5.2 Europe Avastin (Bevacizumab) Biosimilars Sales by Country (2020-2031)
5.5.3 Europe Avastin (Bevacizumab) Biosimilars Revenue by Country (2020-2031)
5.5.4 Germany
5.5.5 France
5.5.6 U.K.
5.5.7 Italy
5.5.8 Netherlands
5.6 Asia Pacific Avastin (Bevacizumab) Biosimilars Market Facts & Figures by Country
5.6.1 Asia Pacific Avastin (Bevacizumab) Biosimilars Market Size by Country: 2020 VS 2024 VS 2031
5.6.2 Asia Pacific Avastin (Bevacizumab) Biosimilars Sales by Country (2020-2031)
5.6.3 Asia Pacific Avastin (Bevacizumab) Biosimilars Revenue by Country (2020-2031)
5.6.4 China
5.6.5 Japan
5.6.6 South Korea
5.6.7 India
5.6.8 Australia
5.6.9 China Taiwan
5.6.10 Southeast Asia
5.7 South America Avastin (Bevacizumab) Biosimilars Market Facts & Figures by Country
5.7.1 South America Avastin (Bevacizumab) Biosimilars Market Size by Country: 2020 VS 2024 VS 2031
5.7.2 South America Avastin (Bevacizumab) Biosimilars Sales by Country (2020-2031)
5.7.3 South America Avastin (Bevacizumab) Biosimilars Revenue by Country (2020-2031)
5.7.4 Mexico
5.7.5 Brazil
5.7.6 Argentina
5.8 Middle East and Africa Avastin (Bevacizumab) Biosimilars Market Facts & Figures by Country
5.8.1 Middle East and Africa Avastin (Bevacizumab) Biosimilars Market Size by Country: 2020 VS 2024 VS 2031
5.8.2 Middle East and Africa Avastin (Bevacizumab) Biosimilars Sales by Country (2020-2031)
5.8.3 Middle East and Africa Avastin (Bevacizumab) Biosimilars Revenue by Country (2020-2031)
5.8.4 Turkey
5.8.5 Saudi Arabia
5.8.6 UAE
6 Segment by Type
6.1 Global Avastin (Bevacizumab) Biosimilars Sales by Type (2020-2031)
6.1.1 Global Avastin (Bevacizumab) Biosimilars Sales by Type (2020-2031) & (K Units)
6.1.2 Global Avastin (Bevacizumab) Biosimilars Sales Market Share by Type (2020-2031)
6.2 Global Avastin (Bevacizumab) Biosimilars Revenue by Type (2020-2031)
6.2.1 Global Avastin (Bevacizumab) Biosimilars Sales by Type (2020-2031) & (US$ Million)
6.2.2 Global Avastin (Bevacizumab) Biosimilars Revenue Market Share by Type (2020-2031)
6.3 Global Avastin (Bevacizumab) Biosimilars Price by Type (2020-2031)
7 Segment by Application
7.1 Global Avastin (Bevacizumab) Biosimilars Sales by Application (2020-2031)
7.1.1 Global Avastin (Bevacizumab) Biosimilars Sales by Application (2020-2031) & (K Units)
7.1.2 Global Avastin (Bevacizumab) Biosimilars Sales Market Share by Application (2020-2031)
7.2 Global Avastin (Bevacizumab) Biosimilars Revenue by Application (2020-2031)
7.2.1 Global Avastin (Bevacizumab) Biosimilars Sales by Application (2020-2031) & (US$ Million)
7.2.2 Global Avastin (Bevacizumab) Biosimilars Revenue Market Share by Application (2020-2031)
7.3 Global Avastin (Bevacizumab) Biosimilars Price by Application (2020-2031)
8 Value Chain and Sales Channels Analysis of the Market
8.1 Avastin (Bevacizumab) Biosimilars Value Chain Analysis
8.1.1 Avastin (Bevacizumab) Biosimilars Key Raw Materials
8.1.2 Raw Materials Key Suppliers
8.1.3 Avastin (Bevacizumab) Biosimilars Production Mode & Process
8.2 Avastin (Bevacizumab) Biosimilars Sales Channels Analysis
8.2.1 Direct Comparison with Distribution Share
8.2.2 Avastin (Bevacizumab) Biosimilars Distributors
8.2.3 Avastin (Bevacizumab) Biosimilars Customers
9 Global Avastin (Bevacizumab) Biosimilars Analyzing Market Dynamics
9.1 Avastin (Bevacizumab) Biosimilars Industry Trends
9.2 Avastin (Bevacizumab) Biosimilars Industry Drivers
9.3 Avastin (Bevacizumab) Biosimilars Industry Opportunities and Challenges
9.4 Avastin (Bevacizumab) Biosimilars Industry Restraints
10 Report Conclusion
11 Disclaimer
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