Samsung Bioepis Releases Q3 2024 US Biosimilar Market Report: Insights on Interchangeability and Adoption

Samsung Bioepis has released its third quarter 2024 US Biosimilar Market Report, providing comprehensive insights into the evolving biosimilar landscape, including interchangeability, market trends, and successful adoption strategies.

Key points:

  • The report addresses frequently asked questions on biosimilar interchangeability and its exclusivity, clarifying the FDA’s stance on these issues.
  • It includes an interview with Scripius’ pharmacy benefit manager, detailing their successful adoption of adalimumab biosimilar and plans for future biosimilar adoption.
  • The report provides updated Average Sales Price (ASP) information, market share statuses, and approval statuses for all biosimilars in the US market.

Market estimate: The global biosimilars market was valued at $15.7 billion in 2022 and is projected to reach $46.9 billion by 2030, growing at a CAGR of 14.7% from 2023 to 2030, according to Grand View Research.

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Samsung Bioepis has released its Third Quarter 2024 US Biosimilar Market Report, offering stakeholders a detailed look at the evolving biosimilar landscape. This sixth edition of the quarterly report provides crucial updates on biosimilar approval statuses, pricing trends, and market share across all biosimilar molecules in the US market.

Clarifying Interchangeability and Exclusivity

A new ‘Biosimilar Deep Dive’ section addresses frequently asked questions about interchangeable biosimilars and their exclusivity. This addition comes in response to the U.S. Food and Drug Administration (FDA)’s noticeable shift in stance towards interchangeable biosimilars, providing much-needed clarity in this complex area.

Successful Adoption Case Study

The report features an interview with a pharmacy benefit manager from Scripius, highlighting their successful adoption of adalimumab biosimilar. Scripius, an Intermountain Health company, removed the reference adalimumab (Humira) from early 2023 and plans to adopt biosimilars across all lines of business by October 2024. This case study offers valuable insights into overcoming barriers and key lessons for payers considering biosimilar adoption.

Market Trends and Pricing Updates

Samsung Bioepis continues to provide the latest Average Sales Price (ASP) information for all biosimilars and reference products in the US market. This data allows stakeholders to compare current market dynamics and make informed decisions based on up-to-date pricing and market share trends.

As the biosimilar market continues to grow and evolve, reports like this from Samsung Bioepis play a crucial role in helping stakeholders navigate the changing landscape. With the global biosimilars market projected to reach $46.9 billion by 2030, understanding these market dynamics is more important than ever for healthcare providers, payers, and pharmaceutical companies alike.

Source: Globenewswire

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