US savings from biosimilars could exceed US$100 billion

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US savings from biosimilars could exceed US$100 billion

INICIO/Informes | Posted 08/10/2021 0 Post your comment

At the AAM 2021 Annual Meeting, Mr Doug Long* of IQVIA delivered a presentation on US biosimilar market access, indicating savings over the next five years in the US as a result of biosimilars are projected to exceed US$100 billion.

His presentation was based on the IQVIA report ‘Biosimilars in the US 2020–2024: Competition, Savings and Sustainability’, which assessed the current state of the biologicals market in the US and found that the development and approval of biosimilars have been accelerating [1].

In fact, up to September 2021 there have been 29 approvals across 13 molecules [2], although only 18 have so far been launched in the country [3]. In addition, there are a further 108 biosimilars in development across 22 other molecules.

Savings enabled by the presence of biosimilars were modelled by IQVIA to exceed US$100 billion in aggregate over the next five years (2020–2024), although they point out that volume and price dynamics remain volatile and significant uncertainty remains. This is a massive increase form the previous years, where savings of US$18 and 19 billion were achieved for 2010–2014 and 2015–2019, respectively.

In the following series of two articles the expected biosimilar launches and uptake and biosimilars launched, approved or in development are presented.

*Doug Long is the Vice President Industry Relations at IQVIA.

Editor’s comment
Readers interested to learn more about biosimilars in the US are invited to visit www.gabi-journal.net to view the following manuscript published in GaBI Journal:

A white paper: US biosimilars market on pace with Europe

GaBI Journal is indexed in Embase, Scopus, Emerging Sources Citation Index and more.

Readers interested in contributing a research or perspective paper to GaBI Journal – an independent, peer reviewed academic journal – please send us your submission here.

LATIN AMERICAN FORUM The new section of the ‘Latin American Forum’ on GaBI has been launched. The objective of this new section is to provide you with all the latest news and updates on developments of generic and biosimilar medicines in Latin America in Spanish. View this week’s headline article: Requisitos de certificación de BPF en Chile, Cuba y Venezuela Browse the news in the Latin American Forum! Register to receive the GaBI Latin American Forum newsletter. Inform colleagues and friends of this new initiative. LATIN AMERICAN FORUM Se ha lanzado la nueva sección del ‘Foro Latinoamericano’ sobre GaBI. El objetivo de esta nueva sección es brindarle las últimas noticias y actualizaciones sobre desarrollos de medicamentos genéricos y biosimilares en América Latina en español. Vea el artículo principal de esta semana: Requisitos de certificación de BPF en Chile, Cuba y Venezuela Explore las noticias en el Foro Latinoamericano! Regístrese para recibir el boletín informativo GaBI Foro Latinoamericano. Informe a colegas y amigos sobre esta nueva iniciativa.

References
1. IQVIA. Biosimilars in the US 2020–2024: Competition, savings and sustainability. Report by the IQVIA Institute for Human Data Science. 29 September 2020.
2. GaBI Online - Generics and Biosimilars Initiative. Biosimilars approved in the US [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2021 Oct 8]. Available from: www.gabionline.net/biosimilars/general/Biosimilars-approved-in-the-US
3. GaBI Online - Generics and Biosimilars Initiative. Biosimilar approvals and launches in the US [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2021 Oct 8]. Available from: www.gabionline.net/biosimilars/general/Biosimilar-approvals-and-launches-in-the-US

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