US Biosimilar Uptake Challenges
MORRISTOWN, NJ, Published in Pharma Executive you will find RxC International’s latest whitepaper: US Biosimilar Uptake Challenges and the Quest for Cost-Savings
OVERVIEW
Recently published in Pharmaceutical Executive RxC Perspectives provides the latest thinking and key insights around the challenges faced on the quest to find cost-savings in the US Biosimilars market.
There was considerable excitement when biosimilar legislation was passed as part of the Affordable Care Act, hoping that biosimilars could reduce spending and overall healthcare costs. However, this hasn’t materialized today due to structural and market forces within the healthcare system, which tend to preclude the realization of perceived healthcare cost-savings into reality.
Even though a few biosimilars have been approved, their adoption in the US market is rather anemic due to intellectual property challenges, pricing and contracting, payer controls, and incentives not being fully aligned to enable doctors and patients to utilize the biosimilars. Physician and patient awareness of these biosimilars continue to increase despite the lack of transparency and a broader understanding of healthcare economics.
Biosimilars must compete effectively with innovator biologic manufacturers on price, physician experiences, payer access, and patient access and support—some of these biosimilars have started capturing share as the market dynamics are becoming more favorable.
Biosimilars will ultimately capture a significant share of the US biologics market. Having said that, the path to a successful biosimilar adoption will continue to be challenging in these early stages as significant investments are required to show similarity and interchangeability to maximize their potential.
Go to our website to download the whitepaper www.rxcinternational.com. We encourage you to review our perspectives on this topic and share your thoughts. You may reach us via info@RxCinternational.com.
ABOUT RXC INTERNATIONAL
RxC International is a premier life sciences management consulting firm with a passion for helping clients develop strategies to grow their business. Our consulting team has deep expertise in strategic planning, new product planning, and commercial excellence to maximize product potential for pipeline and marketed products. Our clients include leading pharmaceutical and biotechnology companies around the world. The firm has offices in New Jersey, Massachusetts, and California. Additional information about RxC International can be found at www.RxCInternational.com.
CONTACTS
RxC International
info@RxCInternational.com