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Biogen, Samsung Report Third-Quarter Biosimilar Results
Earnings fell overall for Biogen, although biosimilar revenues continued an upward climb.
Cambridge, Massachusetts–based Biogen reported biosimilar revenues up 13% for the third quarter of 2020, to $208 million. Biogen markets etanercept (Benepali), adalimumab (Imraldi), and infliximab (Flixabi) biosimilars. Benepali revenues were up 7%, or $124 million vs 116 million in the year-ago third quarter; Imraldi, up 14%, or $56 million vs $49 million; and Flixabi, up 49%, or $27 million vs $18 million.
Etanercept, adalimumab, and infliximab are used in the treatment of autoimmune diseases such as Crohn disease, ulcerative colitis, rheumatoid arthritis, ankylosing spondylitis, psoriasis, and psoriatic arthritis.
In total, the company reported third-quarter revenues of $3.4 billion, down 6%.
In October, Biogen and Samsung Bioepis reported that the European Medicines Agency had accepted their application for approval of a proposed ranibizumab biosimilar (SB11), referencing Lucentis. Ranibizumab is an anti–vascular endothelial growth factor agent indicated for the control of blood vessel proliferation in retinal vascular disease.
Samsung Biologics, a major owner of the biosimilars company Samsung Bioepis, reported a third quarter 2020 operating profit of $50 million on revenues of $241.8 million. The company said sales were up 49% over the comparable 2019 quarter despite a global slowdown caused by the coronavirus disease 2019 pandemic.
In August, Samsung Bioepis’ bevacizuamb biosimilar (Aybintio) was granted marketing approval by the European Commission. The drug was indicated for the treatment of metastatic colorectal cancer; breast cancer; non–small cell lung cancer; renal cell carcinoma; epithelial ovarian, fallopian tube, and primary peritoneal cancer; and cervical cancer.
During the third quarter, the Incheon, Republic of Korea–based Samsung Biologics announced plans to construct what it called the world’s largest biologics factory, spanning 23.8 million feet. Manufacturing activities are scheduled to begin in the second half of 2022. The company's current 3 manufacturing plants are approaching capacity and in combined floor space do not equal the anticipated size of the new plant.
Cost-Efficiency in Action: Denmark's Transition to Biosimilar Adalimumab
January 14th 2025The nationwide mandatory switch from Humira (reference adalimumab) to biosimilar adalimumab in Denmark led to no increase in total health care costs over 9 months, with significant cost reductions for those who switched to GP2017 specifically, highlighting the economic feasibility of biosimilar adoption.
Biosimilars in America: Overcoming Barriers and Maximizing Impact
July 21st 2024Join us as we explore the complexities of the US biosimilars market, discussing legislative influences, payer and provider adoption factors, and strategies to overcome industry challenges with expert insights from Kyle Noonan, PharmD, MS, value & access strategy manager at Cencora.
Breaking Barriers in Osteoporosis Care: New Denosumab Biosimilars Wyost, Jubbonti Approved
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Senators Introduce Bipartisan Legislation to Protect Skinny Labeling
January 2nd 2025To close out the year, 4 senators came together to introduce a new bipartisan bill to protect biosimilar and generic drug manufacturers from patent litigation when obtaining “skinny label” approvals for their products.
