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Congress, patients step up campaign for more generic drugs
Washington, D.C.-While global sales of pharmaceuticals are slowing, the generic drug market continues to grow. The latest report from IMS Health predicts generic drug sales will rise 13% to 14% to $65 billion next year, almost 10% of projected worldwide drug sales of $685 billion, compared with a 5% to 6% increase in the global pharmaceutical market.
WASHINGTON, D.C.-While global sales of pharmaceuticals are slowing, the generic drug market continues to grow. The latest report from IMS Health predicts generic drug sales will rise 13% to 14% to $65 billion next year, almost 10% of projected worldwide drug sales of $685 billion, compared with a 5% to 6% increase in the global pharmaceutical market.
The prospect of added savings is driving the campaign for access to new generic treatments. A hot issue in Washington is whether the Food and Drug Administration will establish a pathway for approving generic versions of high-priced biotech therapies. And with the Democrats now setting the agenda, the campaign for generic biologics has gained impetus.
The legislation also encourages manufacturers to conduct additional testing to demonstrate that a product is "interchangeable" with the reference product, instead of just comparable. And the measure aims to prevent brand-name firms from maneuvering to extend patents and block new generics.
The bill's sponsors say that FDA set a precedent for such an approach by approving Sandoz's Omnitrope (human growth hormone) last May. FDA is somewhat reluctant, however-it took FDA nearly three years to approve this "follow-on" version of a biotech therapy, and the agency considers Omnitrope too unique to establish a pathway for other biotech products to come to market.
A Conversation With Greg Baker, RPh, CEO of AffirmedRx
March 31st 2024Greg Baker, CEO of AffirmedRx, describes his early career, shares some of his critical opinions about the pharmacy benefit management (PBM) industry and how, in his view, his company is offering a better alternative.
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David Calabrese of OptumRx Talks New Role, Market Insulin Prices and Other Topics 'On His Mind'
April 13th 2023In this month’s episode of the "What's On Your Mind podcast," Peter Wehrwein, managing editor of MHE connects with the now Chief Clinical Officer of OptumRx Integrated Pharmacies, David Calabrese. In this conversation, David touches on his transition in January as OptumRx’s former chief pharmacy officer and market president of health plans and PBMs to his new role as Chief Clinical Officer where he now focuses more on things such as specialty pharmacy to home delivery — with an overall goal of creating whole-patient care. Throughout the conversation, Calabrese also touched on the market’s hot topic of insulin prices and behavioral health services within the OptumRx community, among other topics.
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Florida Gets the OK. But Will Drug Importation from Canada Actually Happen?
March 5th 2024Canadian health officials warn that maintaining a drug supply for Canadians is their priority. The staunch opposition of the U.S. pharmaceutical industry may also be an obstacle to imports from north of the border.
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Briana Contreras, editor of Managed Healthcare Executive, spoke with Nancy Lurker, CEO and president of EyePoint Pharmaceuticals. Nancy shared a bit about EyePoint and how the organization’s innovative therapies are addressing patient needs through eye care, and most importantly, she addressed C-Suite positions like the CEO role. Nancy shared advice for those seeking to reach the CEO level, especially toward women in healthcare and other roles, and what it takes to run a biopharma company.
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What Payers Need to Know As Retail Pharmacies Move Into Primary Care
September 6th 2023Healthcare beyond the doors of the doctor’s office has the potential to offer more care to more people. But payers need to think about how to ensure that care is consistent. Regardless of the setting, care decisions must be based on evidence-based content and supported with strong patient education.
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