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Pfizer Launches Epoetin Alfa Biosimilar, Retacrit, at 33.5% Discount to Reference Epogen
Pfizer announced today that it has launched its epoetin alfa biosimilar, Retacrit, at a substantial discount to the reference product, Epogen.
Pfizer announced today that it has launched its epoetin alfa biosimilar, Retacrit, at a substantial discount to the reference product, Epogen.
Retacrit, which was approved in the European Union in 2007, just recently received FDA approval in May 2018 for all indications of the reference product as an erythropoiesis-stimulating agent. As of Monday, November 12, 2018, Pfizer announced the first shipment of the biosimilar had been sent to wholesalers in the US.
Retacrit will enter the US market at a wholesale acquisition cost (WAC) of $11.03 per 1000 units/mL, which is a 33.5% discount to the WAC of the reference product and a 57.1% discount to the WAC of Procrit.
The introduction of Retacrit into the US market brings the total number of available biosimilars to 6, while 14 are FDA-approved and delayed in entry due to patent litigation. For Pfizer specifically, this market launch marks their third biosimilar available.
“We are delighted to introduce our third biosimilar in the United States,” said John P. Kennedy, general manager, US Biosimilars, Pfizer Essential Health. “Pfizer is committed to fostering a sustainable marketplace for biosimilars and advocates for policies that bring these important medicines to patients and physicians as quickly as possible.”
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.
