The fourth-quarter and full-year 2017 earnings report from Amgen highlights the fact that biosimilars can be both a challenge and an opportunity for drug makers whose innovator products face biosimilar competition and who develop biosimilar products of their own.
The fourth-quarter and full-year 2017 earnings report from Amgen highlights the fact that biosimilars can be both a challenge and an opportunity for drug makers whose innovator products face biosimilar competition and who develop biosimilar products of their own.
Filgrastim Sales Decline After Biosimilar Competition
Fourth-quarter sales of Neupogen (filgrastim) declined 27% year-over-year and 9% quarter-over-quarter, with unit declines of the innovator drug driven by competition from biosimilar therapies, including Sandoz’s Zarxio in the United States. Neupogen now holds approximately a 40% unit share of filgrastim in the US marketplace.
Sales of Amgen’s pegfilgrastim, Neulasta, were flat year-over-year, and sales of the drug’s Onpro presentation (an on-body injector) accounted for slightly more than 60% of pegfilgrastim sales. Amgen says that it expects the drug to see a slow decline as myelosuppressive chemotherapy regimens give way to newer immunotherapies, but did not name the threat of biosimilar competition as a concern.
Oncoming Biosimilar Challenge to Aranesp
Amgen also saw fourth-quarter sales of its Aranesp (darbepoetin alfa) decline by 7% year-over-year, and 5% quarter-over-quarter, with lower unit demand for the drug playing a role in this sales slowdown. Amgen says that it is closely monitoring both emerging long-acting erythropoiesis-stimulating agents, which could compete with Aranesp for market share, as well as the potential for a short-acting biosimilar to be launched in the United States.
Oncology and Rheumatology Biosimilars Ahead
Looking ahead, Amgen sees room for biosimilars to boost its business, especially with its upcoming 2018 launch of Amjevita, a biosimilar adalimumab, in the European Union. Also ahead—though no date has yet been announced—is the launch of Mvasi, a biosimilar bevacizumab that has been approved in the United States and the European Union.
Finally, Amgen expects to announce data from a phase 3 study of its proposed infliximab biosimilar, ABP 710, in the second half of 2018, and the drug maker also anticipates approval of its Biologics License Application for ABP 980, a proposed trastuzumab biosimilar, which has a Biosimilar User Fee Act target action date of May 28, 2018.
Global Biosimilar Market Projected to Reach $1.3 Trillion by 2032
April 11th 2024The global biosimilar market is projected to surge from $25.1 billion in 2022 to approximately $1.3 trillion by 2032, with a compound annual growth rate of 17.6%, driven mainly by the increasing prevalence of cancer and the cost-effectiveness of biosimilars, as outlined in a report by Towards Healthcare.
Exploring the Biosimilar Horizon: Julie Reed's Predictions for 2024
February 18th 2024On this episode of Not So Different, Julie Reed, executive director of the Biosimilars Forum, returns to discuss her predictions for the biosimilar industry for 2024 and beyond as well as the impact that the Forum's 4 new members will have on the organization's mission.
Study: More Biosimilar Competition Is Not Lowering Patient OOP Costs
March 29th 2024Despite more biosimilars entering the market and generating significant savings for payers and health care systems, these savings are not resulting in lower out-of-pocket (OOP) costs for patients, according to a recent study.
Biosimilar Business Roundup for October 2023—Podcast Edition
November 5th 2023On this episode, we discuss the biggest news to come out of October 2023, including 3 regulatory approvals, 2 complete response letters, and new data and industry insights that have the potential to impact the entire US biosimilar industry.
Coherus Biosciences Cites Biosimilars as Main Drivers of 2023 Revenue Growth
March 14th 2024In its earnings report for the fourth quarter and full year of 2023, Coherus Biosciences detailed its rising revenue growth, which it partly attributed to increased sales for its pegfilgrastim and ranibizumab biosimilars.