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Pfizer's Biosimilar Revenues Soar 80%
The strong growth of biosimilars Pfizer recently launched in the United States are part of the success story, although reference etanercept (Enbrel) sales have seen major erosion.
Third-quarter earnings for Pfizer revealed a strong upward pattern for biosimilar penetration, despite the coronavirus disease 2019 (COVID-19).
Biosimilar revenues climbed to $424 million (up 80%), driven mainly by the recent launches of biosimilars for rituximab (Ruxience), bevacizumab (Zirabev), and trastuzumab (Trazimera) products in the United States and elsewhere, Pfizer said in an earnings report.
The company also cited ongoing growth in revenues from its epoetin zeta biosimilar (Retacrit), mainly in the United States.
Pfizer said sales declined 21% overall for its reference product Enbrel (etanercept) owing to competition in Europe, Japan, and Brazil, where biosimilars of this drug are available.
Biosimilar and generic competition for Pfizer’s products that are losing or have lost patent protection was cited for an anticipated “negative revenue impact of $2.4 billion” for the full year 2020. However, success with Pfizer’s own biosimilar launches contributed to 4% overall operational revenue growth, the company said. Third-quarter revenues totaled $12.1 billion.
“In the first 9 months of the year, our biopharma business grew 7% operationally, despite a COVID-19–related negative impact of approximately 2%, driven by the strong performance of many of our key brands,” said Frank D’Amelio, chief financial officer and executive vice president of Global Supply for Pfizer.
Julie Reed: Why 2024 Is Important for Biosimilars
April 17th 2024Julie Reed, executive director of the Biosimilars Forum, showcases how the biosimilar industry is expected to develop throughout 2024, including major policy changes and hope for continued improvement in market share for adalimumab biosimilars.
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.
Alvotech’s Stelara Biosimilar, Selarsdi, Receives FDA Approval
April 16th 2024Alvotech’s Selarsdi (ustekinumab-aekn), a biosimilar referencing Stelara (ustekinumab), gained FDA approval, making it the second ustekinumab biosimilar and second for the company to be given the green light for the American market.
Biosimilars Rheumatology Roundup for February 2024—Podcast Edition
March 3rd 2024On this episode of Not So Different, The Center for Biosimilars® revisited all the major rheumatology biosimilar news from February 2024, including the FDA approval of the 10th adalimumab biosimilar, the promise for an oral delivery system for ustekinumab, and the impact of adalimumab products on COVID-19 antibodies.
Biosimilars Council: PBM Rebate Schemes Cost Americans, Payers $6 Billion
April 10th 2024A report from the Biosimilars Council evaluating IQVIA data found that rebate schemes orchestrated by pharmacy benefit managers (PBMs) are costing US patients and payers billions of dollars by suppressing biosimilar adoption.
