A report by the IQVIA Institute for Human Data Science brings optimism around biosimilar adoption, suggesting significant health care savings in coming decade.
Predicting sales in excess of US$80bn and more than US$100bn in biosimilar-generated health care savings, the report referred to some of the commonly held assumptions about the uptake of biosimilars as more conservative than what data suggests. The report highlights that drugs accounting for more than half of the spend on biologics either currently face or will face biosimilar competition over the next decade.
The report further points that biosimilars for bevacizumab, trastuzumab, and rituximab molecules which have been launched recently are set to achieve nearly two-thirds volume share by the end of their second year on the market, which is significantly higher and faster than targets from previous biosimilar launches. To date, the FDA has approved 28 biosimilars for nine drug types. At present, 18 of the approved candidates have already been launched.