The Cost Of Biosimilar Drugs

Improvements in health care and life sciences are an important source of gains in health and longevity globally. The development of innovative pharmaceutical products plays a critical role in ensuring these continued gains. To encourage the continued development of new drugs, economic incentives are essential. These incentives are principally provided through direct and indirect government funding, intellectual property laws, and other policies that favor innovation. Without such incentives, private corporations, which bring to market the vast majority of new drugs, would be less able to assume the risks and costs necessary to continue their research and development (R&D). In the United States, government action has focused on creating the environment that would best encourage further innovation and yield a constant flow of new and innovative medicines to the market. The goal has been to ensure that consumers would benefit both from technological breakthroughs and the competition that further innovation generates. The United States also relies on a strong generic pharmaceutical industry to create added competitive pressure to lower drug prices. Recent action by the Administration and Congress has accelerated the flow of generic medicines to the market for precisely that reason. By contrast, in the Organization for Economic Cooperation and

The high prices set by pharmaceutical companies for drugs allows the companies to continue researching, developing, and producing new drugs. As new diseases are discovered, new medications must be discovered in order to treat them.

A reason for that is that the introduction of biosimilars is expected to reduce drug costs, although to a lesser degree than seen with small-molecule generic drugs. This difference can be explained due to the importance of clinical trials in the case of biosimilars, as the process is fully part of the final drug : Generic medicines need to

Tens of thousands of Americans are now spending more than $100,000 a year on prescription drugs. So they’re paying somewhere around $1,000 per pill. All across this country people are dying from illnesses that can be treated, only because their medicine is too expensive for them to afford. The cost of prescription drugs should and can be lowered. Just think about all the families that are in debt or have lost a loved one because of overpriced prescription drugs. These major health companies have no concern for the well being of others, they don’t care if people are dying because they can’t afford it. All they care about is making a profit and as long as they get it, they’re satisfied.

Over the years, there has been an immersive increasement in the cost of medication. These high prices have created disputes between individuals, who wish for more affordable medicine and those who believe that the prices are necessary. The cost of medication may be excessively high, but it is important for a variety of reason. The prices of the medication are set in order to fund for research and development, so that researchers can produce more efficient and safer drugs for patients. Although it may be excessive, it may be necessary in order to continue the fundings.

Why are prescription medications so expensive in the United States? This is a fair question considering citizens of other countries pay much less for their medications than those in the US. For example, Jevtana, a medication used to treat prostate cancer costs $8,659 for 30 mg through Medicare. However, across the border in Ontario, the same dose costs $4,618 [5]. In another well publicized case, the price of Daraprim, an antifungal medication, was raised from $13.50 a pill to $750 a pill after being acquired by Turing Pharmaceuticals. That is a 5,000% price hike. It doesn’t take a genius to figure out that pharmaceuticals are a big business in the US. Yet the question remains. Why are they so expensive?

Drug cost is very high even if the patient chooses to a generic version of the medication. Although there are similar drugs available to treat the same ailment one would think it would keep the cost low to minimize the competition that has no bearing on pricing medicine. According to Kesselheim, Avorn, & Sarpatwari, (2016), between 2013 and 2015, the cost of prescription drugs in the United States increased approximately 20% exceeding the forecasted amount of 11%. The cost of prescription drugs is undeniably one of the key components that adds to the cost of healthcare. Biologic drugs such as Humira can cost the insurance companies thousands of dollars and still leave the patient to contribute a high portion of the cost. Individuals who

In this case for me one of the company's problem is the low income to their company which must solve the problem of management to have a good image of the company concerned. Cheap Pharma provides a way to reach them have a big income due to gradual collapse of their sales as a result desired by Mr. de Guzman and the other two board of directors agreed to buy shares of stocks of Green Med where it has the boost to help build a unique products that can provide big profits for their company.

The advent of a U.S. biosimilar approval pathway and market can affect health care spending through two mechanisms:

Our group chose to tweet this article because we have encountered patients when working that have verbalized their frustration regarding soaring drug prices, particularly for the EpiPen. We were interested to learn about this dilemma from the perspective of a PBM’s CEO. Tim Wentworth is the CEO of Express Scripts, the largest PBM organization in America. In his interview, Wentworth criticized Mylan CEO, Heather Bresch, who claimed the increase in drug prices could not be blamed solely on the drug manufacturers. Bresch said the inflation could be contributed to actions of insurance companies, PBMs, and drug companies. Wentworth went on to defend the role of PBMs and explained why they were not to blame for the steep drug prices. We found it

Here's a look at what I believe more people need to know about the Mexican Drug War and Cartel. The Mexican drug cartels have been like a disease spreading like a wild fire all over Mexico over the years. The Mexican government has been fighting a war with drug traffickers for a long time. Also, drug cartels have been fighting with each other for control of territories in Mexico. Over 60,000 people have been killed from 2006 to 2012, according to Human Rights Watch. Many people have been robbed, tortured, kidnapped, injured, and murdered through out the domestic drug war that is going on in Mexico. Officials have dispatched thousands of troops and experienced police officers to contain the “self-defense” groups in the towns of Mexico. These people claim that they are simply filling a void left by incompetent or corrupt officials in their government. Many of the people taking on these gangs that control their parts of the region say they do not care much about the illegal drug trades going on around them. These cartels have been supplying the United States and Mexican people for decades. All these town people want is for the criminals to leave the regular residents of their towns in peace.

The necessity of having generics to biologics. I can say about this based on patient's economic ability. Taking biologic treatment is not a matter to wealthy person. but it matters for poor people. Biologics is not affordable by all classes in the society, where as biosimilars is affordable. Majorly biosimilars are similar to their reference products in terms of safety, efficacy, route of administration and patient compliance etc. So in my view, it is better to have biosimilars in the market in order to provide better health care to the society when compared to conventional drugs.

Every year in the United States millions of Americans go without taking their prescribed medications. This is not because they simply do not wish to take their medications or they forget their daily doses but rather something more heartbreaking. A multi-billion-dollar company won’t allow these Americans to take their medications. In this case the company has not recalled the medications or sent out representatives to retrieve the medications from these individuals. You may ask yourself why these people are going without their medications if there is no risk involved. Well the reason is that these pharmaceutical companies raise their prices

According to the article “Originator and generic medicine: pricing and market share” the cost of pharmaceutical drugs accounts for a significant portion of the total health expenditure (Eon Van Der & Brendenkamp, 2013). Pricing strategies are used to create affordable costs, while also providing quality for prescription drug management programs. As part of the goals of pricing strategies, benefit management programs use pharmaceutical benefit managers to negotiate prices, create a savings out of every component of the benefit program, as well as improve clinical outcomes (Jones, 2003). Pharmaceutical benefit managers are used to administer drug benefits on behalf of health plans, and employers (Congressional Budget Office, 2007). The article “Developing an effective generic prescription drug program” by John Jones, discusses a variety of pricing strategies that are offered by pharmaceutical benefit managers. Additionally, the pricing strategy personally recommended by the author will be discussed.

This enabled numerous “me too” drugs to achieve satisfactory returns on investment. Imitating a known drug reduced R&D risk considerably, while the marketplace was open to products offering minor advantages such as a more convenient dosage with fewer side effects, but with much the same therapeutic outcome. Generics legislation had a major impact on the industry, providing incentives for innovation and a race to market. The time during which R&D costs could be recouped was drastically curtailed, putting upward pressure on prices. By the end of the 1970s generic entrants and more stringent controls on clinical trials had led to substantial increases in R&D spending.