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Eye on Pharma: Bracing for Biosimilars, Genentech Will Lay Off 223 Employees
As biosimilar competition nears for Roche and its subsidiary, Genentech, a new WARN notice in the state of California disclosed that Genentech is set to lay off 223 employees from a local plant beginning August 31, 2018.
As biosimilar competition nears for Roche and its subsidiary, Genentech, a new WARN notice posted in the state of California disclosed that Genentech is set to lay off 223 employees from a local plant beginning August 31, 2018.
“The success of our business depends on our ability to respond to change, appropriately allocate resources and manage our operations efficiently,” said a Genentech spokeswoman in a statement. The layoffs will be “across different departments” and will continue into November.
These cuts come less than a year after the company laid off 130 workers at its biologics plant in Vacaville, California. “We are making this organizational change in response to the current and anticipated production requirements, the volumes required for some of our new medicine formulations, and shift schedule adjustments,” said the company at the time.
Roche’s top selling cancer medications rituximab (Rituxan), trastuzumab (Herceptin), and bevacizumab (Avastin) together brought in the company more than $20 billion in 2017. The high earnings have identified the drugs as valuable targets for biosimilar developers.
Although the FDA has approved a trastuzumab biosimilar (Ogivri) and bevacizumab biosimilar (Mvasi), neither have yet reached the market. The United States came close this year to having an approved rituximab biosimilar, however, the drug developer (Sandoz) was issued a Complete Response Letter from the FDA in May.
Conversely, the European market has seen approvals and marketing efforts of biosimilars for all 3 reference products; including 1 biosimilar option for Avastin, 4 Herceptin biosimilars, and 6 Rituxan biosimilars (1 molecule marketed under 4 trade names, and another molecule marketed under 2 trade names).
AAM Report: Generics and Biosimilars Savings Reach $445 Billion in 2023, Part 1
September 18th 2024Savings from generic and biosimilar drugs totaled $445 billion in 2023, showing promise for the growth of both markets and highlighting the success of expansion policies for these products, according to a new report from the Association for Accessible Medicines (AAM).
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.
Expanding Biosimilar Adoption: Insights and Strategies With Dr Sophia Humphreys
September 16th 2024Sophia Humphreys, PharmD, MHA, BCBBS, director of system formulary management at Sutter Health, discusses the challenges of expanding biosimilars into new therapeutic areas and highlights the role of education, competitive pricing, and integrated delivery networks in improving adoption and market growth.
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.
BioRationality: FDA Clarification Provides New Indications and Process Change for Biosimilars
September 9th 2024Sarfaraz K. Niazi, PhD, explains the FDA's new guidelines on post-approval changes for biosimilars, emphasizing the processes for reporting modifications, comparability assessments, and the potential for biosimilars to introduce new indications or formulation changes, which could significantly impact their market competitiveness and accessibility.
The Role of Coverage Strategies in Biosimilar Market Impact and Cost Savings
September 4th 2024A recent study highlights that although biosimilars have led to significant price reductions, originator products with sole preferred coverage strategies have maintained market share, suggesting that increased biosimilar uptake alone may not fully leverage the market's competitive and cost-saving potential.
