Go-to-market Solution for Biosimilars
Heavy investments in biosimilar developments in the past decade have brought numerous biosimilars to the market, and the number will keep growing in the next few years. The burgeoning market has generated a lot of public attention and that from the regulatory bodies. The United States Congress has charged FDA with advancing policies that are able to maintain a balance between encouraging and rewarding medical innovations and facilitating robust and timely market competition. In the meantime, biosimilar manufacturers are looking for innovative entry market strategies and places where they could grow their market shares. No one should underestimate the huge market potential biosimilars in that between 2009 and 2019 21 heavy-weight biopharmaceuticals mostly in the fields of oncology and inflammatory diseases may have lost their patent protection. And these 21 drugs have a combined market value of more than $50 billion (US).
Our Estimates and Your Savings: Oakmontscript’s model-based estimates of biosimilars have given our partners an edge over their competitors in gaining more market shares. We would review at least 150 sources before offering cost saving estimates to our clients. The magnitude of savings from us is determined by a correct estimation of the assumptions on biosimilar price relative to the originator price---that is 27%, while the general biosimilar market share assumptions averages at 28 percent. Many distributors from outside the US are very inexperienced in the purchase of biosimilars; their key assumptions on market share and biosimilar prices are “best guesses” based on anecdotes or professionals’ opinions, when our estimates are more reliable and more rewarding when it comes to cutting down total biologic spending and gaining a bigger share in the market of biosimilars.