How biosimilars are affecting the drug markets

<p>Lowering prescription drug prices continues to be a hot topic. Spending on biologic products, which includes most vaccines and gene therapies, was <a href="https://www.iqvia.com/insights/the-iqvia-institute/reports/medicine-use-and-spending-in-the-us-a-review-of-2018-and-outlook-to-2023">estimated at $125 billion in the United States</a> in 2018, representing about a quarter of total pharmaceutical spending.</p><p>Biosimilars, follow-on products to biologic drugs with essentially the same molecular composition to produce comparable clinical effects, are viewed by many as a way to promote competition and bring down drug prices. But the biosimilar market is young, with half of the 10 key product classes seeing marketing entry in 2018 or later. </p><p>Understanding the evolving market for biosimilars is the topic of this episode of <em>A Health Podyssey</em>.</p><p>Ariel Dora Stern, associate professor at <a href="https://www.hbs.edu/">Harvard Business School</a> and a faculty affiliate of the <a href="https://hmcrs.org/">Harvard-MIT Center for Regulatory Science</a>, and coauthors published a paper in the June 2021 issue of <em>Health Affairs</em> examining <a href="https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2020.02239">how quickly biosimilars and follow-on products gained market share</a> and the subsequent trajectory of drug prices.</p><p>Listen to <em>Health Affairs </em>Editor-in-Chief Alan Weil interview Dr. Stern on what biosimilars are and how the pharmaceutical market is evolving in response to their market entry. </p><p>This episode is sponsored by the <a href="https://www.ruralhealthresearch.org/">Rural Health Research Gateway at the University of North Dakota</a>.</p><p><a href="https://www.pubservice.com/backissue/subbi.aspx?CO=PJ&amp;PC=HR&amp;BI=HRI">Pre-order your copy of the July 2021 issue of <em>Health Affairs</em></a><em>.</em></p><p>Subscribe: <a href="https://feeds.transistor.fm/a-health-podyssey">RSS</a> | <a href="https://podcasts.apple.com/us/podcast/a-health-podyssey