![]() consumers.Įuropean countries don't generally allow price increases after a drug launches and, in some cases, the national health authority requires patients to switch to less expensive biosimilars once the copycat product is proven safe and effective, says Michael Kleinrock, research director for IQVIA Institute for Human Data Science. or gaining market share.Īs a result, only six biosimilars are available for U.S. government generally stops short of negotiating prices and drugmakers with brand-name biologics have used a variety of strategies - from special contracting deals to overlapping patents known as "patent thickets"- to block copycat versions of their drugs from entering the U.S. didn't follow suit until 2015 with cancer-treatment drug Zarxio. Europe approved the growth hormone Omnitrope as its first biosimilar in 2006, but the U.S. pharmaceutical sales.Įuropean patients can choose from dozens of biosimilars - 50 in all - which have stoked competition and driven prices lower. The brand-name products - ranging from Humira for rheumatoid arthritis to Avastin for cancer - are high-priced drugs that account for 40 percent of U.S. Governments in Europe have compelled drugmakers to bend on prices and have thrown open the market for so-called biosimilars, which are cheaper copies of biologic drugs often derived from living organisms. Europeans have found the secret to making some of the world's costliest medicines much more affordable, as much as 80 percent cheaper than in the U.S. ![]()
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