Fierce Health Payers July 19, 2019
Growing the biosimilar market could lead to significant healthcare cost savings, according to a new report, with the opportunity for billions in cost reductions.
An analysis (PDF) from the Pacific Research Institute, a free market think tank, shows today the limited biosimilar market share saved about $253.8 million per year in spending.
If biosimilars gained a 25% market share, those savings would increase to $2.5 billion, they said. If the market share increased further, the savings could be substantial—a 50% share could save $4.8 billion in healthcare spending; a 75% share could save $7.2 billion.
Wayne Winegarden, director of the institute’s Center for Medical Economics and Research and the report’s author, told FierceHealthcare that if there’s room to...
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