• Bone Health
  • Immunology
  • Hematology
  • Respiratory
  • Dermatology
  • Diabetes
  • Gastroenterology
  • Neurology
  • Oncology
  • Ophthalmology
  • Rare Disease
  • Rheumatology

Dr Joseph Fuhr: Competition from Biosimilars Will Lead to Lower Prices Over Time

Video

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.

Related Videos
Lakesha Farmer from Cencora
Jeffrey Casberg, RPh, MS.
Adam Colborn, JD.
Legal scale weighs profit as greater than medical treatment
Ha Kung Wong, JD.
Ha Kung Wong, JD
Cencora's Corey Ford
Brian Biehn
Chelsee Jensen, PharmD, BCPS
Related Content
© 2024 MJH Life Sciences

All rights reserved.