Report: Delayed adoption of biosimilars has cost system $2.2B since 2015
The Biosimilars Council, a division of the Association for Accessible Medicines has released Part II of its white paper series, “Failure to Launch,” finding that anti-competitive rebating tactics by brand name manufacturers, coupled with policy failures and inadequate incentives for biosimilar use, stifle biosimilars adoption in the United States. This has resulted in nearly $2.2 billion in lost savings for America’s health care system and patients since 2015.
Part I of this series, “Failure to Launch: Patent Abuse Blocks Access to Biosimilars for America’s Patients,” found that delayed launch of biosimilars due to patent thickets has cost the U.S. health care system an astounding $7.6 billion in lost savings since 2015.
In total, America’s patients have lost nearly $10 billion in potential biosimilar savings since 2015.
These lost savings directly result from anti-competitive tactics by brand-name manufacturers and multiple policy failures. Patients, taxpayers and the overall health care system are bearing the costs of these tactics.
“If brand-name manufacturers can kill the financial viability of manufacturing less-expensive competitors, there will be no potential for future investment in biosimilars, effectively locking in monopoly pricing and losing billions in savings that America simply cannot afford,”executive director, Biosimilars Council, and AAM senior vice president of policy and strategic alliances, Christine Simmon said.
Part I of this series, “Failure to Launch: Patent Abuse Blocks Access to Biosimilars for America’s Patients,” found that delayed launch of biosimilars due to patent thickets has cost the U.S. health care system an astounding $7.6 billion in lost savings since 2015.
In total, America’s patients have lost nearly $10 billion in potential biosimilar savings since 2015.
These lost savings directly result from anti-competitive tactics by brand-name manufacturers and multiple policy failures. Patients, taxpayers and the overall health care system are bearing the costs of these tactics.
“If brand-name manufacturers can kill the financial viability of manufacturing less-expensive competitors, there will be no potential for future investment in biosimilars, effectively locking in monopoly pricing and losing billions in savings that America simply cannot afford,”executive director, Biosimilars Council, and AAM senior vice president of policy and strategic alliances, Christine Simmon said.