- Details the latest quarterly information on biosimilar utilization and financial datapoints for the US biosimilar market
- Explores key determinants influencing various degrees of biosimilar utilization
INCHEON, South Korea, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Samsung Bioepis Co., Ltd. today released the Fourth Quarter 2023 Biosimilar Market Report which explores latest market trends for all biosimilars commercially available in the United States. This latest quarterly report details the recent prices of all biosimilars based on the fourth quarter 2023 average sales price (ASP) published by the Center of Medicare, Medicaid Services (CMS), as well as the market share and price trends of all molecules for which biosimilars are available, providing up-to-date trends ever since the first biosimilar entered market for each category.
The report also explores three key determinants influencing the degree of biosimilar utilization:
- Independent Medical Guidelines
- Duration of Treatment: Acute vs. Chronic Conditions
- Access and Rebate Walls
“We are pleased to successfully present our third biosimilar market report to US stakeholders. Based on the trends shown in the report, the new expansion of biosimilars into products categorized within specialty pharmacy benefits is expected to evolve into a fierce and competitive market that will ultimately drive down US healthcare costs,” said Tom Newcomer, Vice President, Head of Market Access, US, at Samsung Bioepis. “Moving forward, we can anticipate looking into more diverse topics as current markets mature and new biosimilar products enter into new therapeutic areas. Samsung Bioepis will always strive to deliver richer and timely content to our readers,” he added.
Samsung Bioepis Biosimilar Market Report, which was first published in April 2023, is being published every quarter after the CMS publishes updated 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 – Twitter, LinkedIn.
MEDIA CONTACT Anna Nayun Kim, nayun86.kim@samsung.com Jane Chung, ejane.chung@samsung.com
