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Dr Joseph Fuhr: Competition from Biosimilars Will Lead to Lower Prices Over Time
Joseph P. Fuhr, Jr, PhD, professor emeritus, Widener University, looks to evidence from Europe to predict US biosimilar cost-savings.
Joseph P. Fuhr, Jr, PhD, professor emeritus, Widener University, looks to evidence from Europe to predict US biosimilar cost-savings.
Transcript (slightly modified)
Will biosimilars generate a significant cost savings in the US?
The discount for biosimilars has been around 15% for the first 2 (products), and this is what happened in Europe in the beginning. In the case of Europe, it has generally been tenders which have resulted in decreases, which are equivalent to our exclusive arrangements. (These arrangements) will develop over time in the US. So far, there’s only 1 biosimilar for a given reference product in the generic market. When only 1 competitor exits, price doesn’t decrease that much, so it is an evolving process. In Norway, where they had a 70% discount, there were 2 biosimilar companies and the originator bidding for the tendered contract. More competition will lead to lower prices, but it will take time for the market to evolve.
Decoding the Patent Puzzle: Navigating the Legal Landscape of Biosimilars
March 17th 2024On this episode of Not So Different, Ha Kung Wong, JD, an intellectual patent attorney and partner at Venable LLP, details the confusing landscape that is the US patent system and how it can be improved to help companies overcome barriers to biosimilar competition.
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.
