Biosimilars Forum Says 75% Market Share Could Save US Billions
As AAM Discourages Reducing Incentives For Patent Challenge And Early Generic Entry
The Biosimilars Forum, in partnership with the Pacific Research Institute, has released a report that shows state-by-state cost savings for the US if biosimilars were able to capture a market share of 75%. Meanwhile, the Association for Accessible Medicines has also released its complete 2021 US Generic And Biosimilar Medicines Savings Report, discouraging reducing incentives for patent challenges and early generic entry.
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The AAM has applauded US proposals to lower drug prices, following the development of the HHS’s 45-day plan in response to president Joe Biden’s executive order on promoting competition. However, AAM chief executive Dan Leonard has criticized Congressional proposals to weaken the 180-day incentive for first generics and curtail patent settlement agreements as “misguided.”
A study published in the Journal of the American Medical Association has found that while Medicare coverage of generic drugs likely improves patient adherence and reduces other health care utilization, inefficiencies stemming from its “complex and opaque system of intermediaries” mean that it has overpaid on most prescription generics compared to retailer Costco.
South Korea’s Celltrion delivered a relatively weak quarter in Q3, with a 26.9% drop in revenues despite robust sales of Truxima (rituximab) and Remsima (infliximab). The company also voiced confidence in pro-biosimilar policies introduced by the Biden administration in the US.