Sustainability Of Biosimilars Landscape

Democrats are considering helping patients to get best-in-class treatment affordably, and they have taken many considerations such as capping out-of-pocket drug costs for Medicare recipients, paneities on increasing rate faster than the rate of inflation, expanding prescription drug subsidies for low-income seniors, and making vaccines free for seniors. Certainly, it will help patients to get a better life.

But as we know, every action also has some shadow, and from a pharmaceutical industry perspective, we need to think deeper into it.

Biosimilar Adoption

Congress has implemented and encouraged a "competitive market theme" for an industry where they passed Biologics Price Competition and Innovation Act (BPCIA) in 2010.

This has opened up competition for providing affordable and cost-effective solutions to patients and created an abbreviated approval pathway as a way to give the public greater access to biological products that are effective and safe. This strategy has created a challenging environment for Innovators to use defensive strategies to keep their revenue momentum.

And the result of these measures is that today, generics and biosimilars represent nine out of every ten prescriptions dispensed in the United States, and total generic and biosimilar drug savings were about $338 billion in 2020, resulting from…