IQVIA Releases Report Detailing Sustainability of Biosimilars in European Markets
IQVIA, a leading healthcare research company, recently released a new report, “Advancing Biosimilar Sustainability in Europe,” which examines the status of biosimilars within the current health models of multiple European countries and includes prescriptive elements about how biosimilars might continue their growth in European markets.
Biosimilars in Europe have thus far been ahead of the U.S. market with 50 approved biosimilars compared to just 12 FDA-approved American products. One benefit as American biosimilar stakeholders attempt to catch up is the opportunity to observe what is working and what isn’t in European markets, and this latest study further builds on that base of knowledge.
A few key findings of the report:
- “Biosimilars are a key means to alleviate financial challenges faced by many stakeholders in the currently constrained European budgetary environment.
- “Elements of biosimilar sustainability represent the needs of all stakeholders including patients, physicians, payers and manufacturers and support the healthy functioning of the marketplace for medicines.
- “Based on sustainable policies currently in place in Europe, a set of best practices can be leveraged to ensure long-term sustainability of the biosimilars market, while additionally fulfilling the needs of all stakeholders.”
Click here to read the full report.
About the Biosimilars Council
The Biosimilars Council, a division of the Association for Accessible Medicines (AAM), works to ensure a positive environment for patient access to biosimilar medicines. The Biosimilars Council is a leading source for information about the safety and efficacy of more affordable alternatives to costly brand biologic medicines. Areas of focus include public and health expert education, strategic partnerships, government affairs, legal affairs and regulatory policy. More information is available on our about page.
AAM is driven by the belief that access to safe, quality, effective medicine has a tremendous impact on a person’s life and the world around them. Generic and biosimilar medicines improve people’s lives, improving society and the economy in turn. AAM represents the manufacturers and distributors of finished generic pharmaceuticals and biosimilars, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals are 90 percent of prescriptions dispensed in the U.S. but only 23 percent of total drug spending. Additional information is available at www.accesiblemeds.org.