Samsung Bioepis Releases Third Quarter 2024 US Biosimilar Market Report
- Addresses frequently asked questions on biosimilar interchangeability and its exclusivity
- Includes an interview with Scripius’ pharmacy benefit manager on their successful adoption of adalimumab biosimilar
- Also available are recently approved biosimilars, latest pricing and market share statuses across all molecules of biosimilars
INCHEON, South Korea, July 11, 2024 (GLOBE NEWSWIRE) — Samsung Bioepis Co., Ltd. today released its Third Quarter 2024 Biosimilar Market Report, which includes the latest Average Sales Price (ASP) information of all biosimilars and reference products available in the US market. The latest report is the sixth-edition of the Samsung Bioepis’ Quarterly Biosimilar Market Report including updates of biosimilar approval statuses, the definition of interchangeability in biosimilars and its exclusivity as well as a successful case of adalimumab biosimilar adoption through an interview with a pharmacy benefit manager (PBM) at Scripius.
“The US biosimilar market is continually evolving and the need to monitor change on a routine basis has become critical to stakeholder evaluations. Our report investigates the market share and price trends for each molecule, allowing readers to access and compare current market dynamics on a timely basis,” said Thomas Newcomer, Vice President, Head of Market Access, US, at Samsung Bioepis. “The biosimilar market is no longer simple. However, as always, we strive to deliver quick and organized information to the US healthcare market.”
A new chapter has been added in the latest report titled ‘Biosimilar Deep Dive’, which encompasses two topics:
1) Frequently Asked Questions (FAQ): Interchangeable Biosimilars and Exclusivity
2) Payer Interview with Scripius on Adalimumab Biosimilar Adoption.
The FAQ defines the term ‘interchangeable biosimilars’ and its exclusivity which is frequently asked in the market. It includes the U.S. Food and Drug Administration (FDA)’s noticeable shift and stance towards interchangeable biosimilars.
The payer interview introduces a successful case of adalimumab biosimilar adoption from Scripius – an Intermountain Health company, forged from Intermountain’s health insurance division, Select Health. The interview details how Scripius removed reference adalimumab (Humira) from early 2023 and is planning to adopt biosimilars across all lines of business by October 2024. The interview also highlights the barriers, key lessons and advices for payers when adopting biosimilars.
Samsung Bioepis has been publishing the report every quarter since April 2023 to provide the latest market share and price trends of all biosimilars available in the United States, after the Centers for Medicare & Medicaid Services (CMS) publishes updated quarterly ASP values for each product.
To access the full report, please visit HERE.
About Samsung Bioepis Co., Ltd.
Established in 2012, Samsung Bioepis is a biopharmaceutical company committed to realizing healthcare that is accessible to everyone. Through innovations in product development and a firm commitment to quality, Samsung Bioepis aims to become the world’s leading biopharmaceutical company. Samsung Bioepis continues to advance a broad pipeline of biosimilar candidates that cover a spectrum of therapeutic areas, including immunology, oncology, ophthalmology, hematology, and endocrinology. For more information, please visit: www.samsungbioepis.com and follow us on social media – X, LinkedIn.
MEDIA CONTACT
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