Scale Of Off-Patent Savings Ramps Up As Impact Of Biologic LOEs Increases
Half Of Immunology Market Will Face Losses Of Exclusivity
IQVIA’s latest Global Use of Medicines report demonstrates the impact generics and biosimilars are set to have on global pharmaceutical spending, with losses of exclusivity expected to dampen spending growth over the next five years.
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The German group has shone a light at the J.P. Morgan Healthcare Conference on its new launched drugs Nubeqa and Kerendia, plus its late-stage candidates asundexian and elinzanetant, as it prepares for life after patent expiries on Xarelto and Eylea.
With the advent of 2023, comes the start of the industry’s next patent cliff, with five products that reached billions in sales at their peak set to lose US patent exclusivity during the year. Scrip takes a look into how the affected big pharma firms are preparing for anticipated market erosion and which generic and biosimilar companies are positioned to benefit the most.
The advent of US biosimilar competition to Humira in 2023 represents the largest ever loss-of-exclusivity opportunity for the off-patent industry, with the first adalimumab rival expected to hit the US market at the end of this month. But with a host of other biosimilars expected to launch throughout the year, how will competition play out in the long term?