Biosimilars To Generate $215bn In Savings Through 2026, Says IQVIA
Losses Of Exclusivity For Major Products To Offset Biopharma Growth
Biosimilar competition, spurred on by significant losses of exclusivity for major products like Humira, Stelara and Xarelto, will lead to significant cost savings for healthcare systems and patients over the next five years according to a recent report from IQVIA. While these entrants are set to limit growth in the branded pharmaceuticals space, innovation is set to continue driving global spending.
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Uptake is expected to be “rapid” once Humira biosimilars launch in the US, according to Sean McGowan, senior director of biosimilars at AmerisourceBergen. Meanwhile, milestone first approvals for interchangeable and ophthalmic biosimilars show that the US biosimilars market is moving in the right direction, he tells Generics Bulletin in an exclusive Q&A.
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.
After nearly two difficult years for Nichi-Iko Pharmaceutical, the firm has announced at it will be acquired by a private equity fund and delisted from the Toyko Stock Exchange in 2023 and its CEO will step down from his post.