Did you know that biosimilars account for less than 0.5% of the value of the mature markets biologic spend---but in pharmerging markets, non-original biologics are over 10% of all biologics spend?
According to a report by the IMS Institute for Healthcare: The Global Use of Medicines: Outlook through 2017, and are expected to represent 19-20% of the total market value in 2017. Other insights in the market:
• Biologics growth is driven by Monoclonal Antibodies (MABs) and human insulin, with four out of the top five biologics in 2012 being MABs.
• Development and production of biologics, both branded and generic, is increasingly competitive with a broad range of players, from small to large pharma companies now attracted to the market.
• In many countries with less rigorous IP protection laws, there has been a recent surge of non-original biologics (NOBs).
• The price premium typically associated with biologics has turned them into an obvious target for government savings in some markets. Connsequently, biosimilar pathways have been defined in Europe, US, and increasingly in pharmerging markets in an effort to encourage lower cost competition.
• In pharmerging markets, both governments and patients struggle to pay for biologics and hence NOBs, encouraged by market demand and government policy, have grown very quickly.
Budget Impact Analysis of Biosimilar Natalizumab in the US
Projected savings from biosimilar natalizumab were $452,611 over 3 years, driven by decreased drug acquisition costs and a utilization shift from reference to biosimilar natalizumab.
Biosimilars in America: Overcoming Barriers and Maximizing Impact
July 21st 2024Join us as we explore the complexities of the US biosimilars market, discussing legislative influences, payer and provider adoption factors, and strategies to overcome industry challenges with expert insights from Kyle Noonan, PharmD, MS, value & access strategy manager at Cencora.
Eye on Pharma: BI Cyltezo Partnership; Europe Ustekinumab Launch; Mexico Biosimilar Approval
July 24th 2024Boehringer Ingelheim (BI) partners with GoodRx to offer its unbranded adalimumab biosimilar to patients at an exclusive low price; a new ustekinumab biosimilar launches in Europe; and Mexican officials approve a bevacizumab biosimilar.
Biosimilars Oncology Roundup for June 2024—Podcast Edition
July 7th 2024On this episode of Not So Different, we review biosimilar news coming out of June, with clinical trial results from conferences and a study showcasing how to overcome economic and noneconomic barriers to oncology biosimilars.
Real-World Study: No Increase in Health Resource Costs After Infliximab Biosimilar Introduction
July 20th 2024Although biosimilars reduce drug purchasing costs for hospitals, it’s unclear whether those savings might be offset by increased health resource utilization following a non-medical switching initiative.