The Brink of the Biosimilar Revolution
A white paper by Health Strategies Insights by EVERSANA, a comprehensive market access research and insights portfolio to help life science innovators make more informed decisions throughout the product lifecycle.
Although biosimilars have not had the immediate uptake in the United States that they have had in Europe, health plans expect these products will become a staple of therapy for some diseases by 2020 – if the price is right.
Since the first biosimilar was approved in the United States in 2015, brand marketers have been bracing for the impact, given Europe’s fairly broad adoption of these products. But so far, biosimilars have not had a seismic effect on the U.S. market. This has been disappointing for both medical and pharmacy directors in U.S. health plans, who are eager to reap potential cost savings from biosimilars.
So why has the biosimilar revolution been on hold in the United States? There is no single reason; rather, there are multiple factors, including:
1. Pharma in-fighting over patents and other issues;
2. Aggressive discounting and rebating by innovator companies; and
3. Regulatory uncertainty and lack of interchangeable products on the market.