Latest From Duncan Emerton
Months of pandemic-induced disruption to health care systems and freedom of movement undoubtedly carries a cost. For the biopharmaceutical industry, this can be mitigated by its essential role in providing therapeutic interventions and leading the fightback via prophylactic vaccines. This softens the blow somewhat, certainly compared to other industries that are fully exposed to COVID-19 headwinds.
The past decade has been transformative for the global biosimilars industry as regulators, developers, physicians, patients and payers from all over the world have grappled with complex, and often market-shaping, issues.
There is no doubt that biologics are the leading growth engine of global medicine spending. According to recent figures, revenues from biologics increased by 70% during 2011-2016 to reach $232bn, accounting for roughly 20-22% of total pharmaceutical spending. But as to the question of whether biosimilars can offer a solution to this affordability issue, that is tougher to answer.
If there is one fact that even the most casual observer of the pharma industry is aware of, it is that biologics are the leading growth engine of global medicines spending. According to IQVIA, revenues from biologics increased by 70% during 2011-2016 to reach $232bn, accounting for roughly 20-22% of total pharmaceutical spending.