Author: Knowledge Services
Biosimilars – biological drugs with properties similar to those already approved – have been permitted in Europe since 2004 and in the US since 2010. To begin with, various barriers and anti-competitive behaviour, made them scarce. For example, owners of branded drugs have been known to launch misleading advertising casting doubt on the safety of biosimilars. Established drug companies have also been filing patents on old drugs to try to extend their monopolies. The market for biosimilars is predicted to reach $61.47 billion by 2025, up from $4.6 billion in 2016. The RAND Corporation, a think-tank, believes that biosimilars could reduce US healthcare spending by $54 billion over the next decade.
European Pharmaceutical Review, Vol 23(5) October 2018, p9; The Economist, 10 November 2018, pp67-68
Originally appeared Cutting Edge 14 November 2018