Samsung Bioepis released its third US Biosimilar Market Report. The quarterly report details recent prices of all biosimilars based on Q4 2023 average sales price (ASPs) published by the Center of Medicare, Medicaid Services (CMS), and market share and price trends of all biosimilars.
The report explores three key influences on biosimilar utilisation:
- Independent Medical Guidelines (noting that the influence of respected medical societies on biosimilar use ‘cannot be overstated’)
- Duration of Treatment: Acute vs. Chronic Conditions (HCPs are often reluctant to initiate changes in chronic patients who respond well to the medicine)
- Access and Rebate Walls (the impact of ‘grandfathering’ allows many patients to continue existing treatment even where biosimilars are available)
On 18 April 2023, Samsung Bioepis released its first US Biosimilar Market Report, predicting that biosimilars will save US$181B in five years in the US. Its second report was published on 11 July 2023.