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.
Biosimilar Market Development Requires Strategic Flexibility and Global Partnerships
April 29th 2025Thriving in the evolving biosimilar market demands bold collaboration, early global partnerships, and a fresh approach to development strategies to overcome uncertainty and drive future success.
How AI Can Help Address Cost-Related Nonadherence to Biologic, Biosimilar Treatment
March 9th 2025Despite saving billions, biosimilars still account for only a small share of the biologics market—what's standing in the way of broader adoption and how can artificial intelligence (AI) help change that?
President Trump Signs Executive Order to Bring Down Drug Prices
April 16th 2025To help bring down sky-high drug prices, President Donald Trump signed an executive order pushing for faster biosimilar development, more transparency, and tougher rules on pharmacy benefit managers—aiming to save billions and make meds more affordable for everyone.
Will the FTC Be More PBM-Friendly Under a Second Trump Administration?
February 23rd 2025On this episode of Not So Different, we explore the Federal Trade Commission’s (FTC) second interim report on pharmacy benefit managers (PBMs) with Joe Wisniewski from Turquoise Health, discussing key issues like preferential reimbursement, drug pricing transparency, biosimilars, shifting regulations, and how a second Trump administration could reshape PBM practices.