- Bone Health
- Immunology
- Hematology
- Respiratory
- Dermatology
- Diabetes
- Gastroenterology
- Neurology
- Oncology
- Ophthalmology
- Rare Disease
- Rheumatology
Second Patent Cliff Lies Ahead for Pharma With $251 Billion in Sales at Risk by 2024
EvaluatePharma, a company that provides consensus forecasts of the pharmaceutical and biotechnology sphere, recently published its 11th edition of its World Preview. In this 2018 installment, the company provided an overview of what investors and other stakeholders can expect to see in the industry from 2018 to 2024.
EvaluatePharma, a company that provides consensus forecasts of the pharmaceutical and biotechnology sphere, recently published the 11th edition of its World Preview. In this 2018 installment, the company provided an overview of what investors and other stakeholders can expect to see in the industry from 2018 to 2024.
In creating the report, the company analyzed data from 7000 of the world’s leading pharmaceutical and biotechnology companies and highlighted trends found in prescription drug sales, patent risk, research and development (R&D) spending, global brand sales, and market performance by therapy area.
“We are looking at an industry set to experience sales accelerating from the sluggish levels following the financial crisis, to annual compound growth of over 6% between now and 2024,” read the report.
Additionally, it is predicted that the pharmaceutical market will be driven by an unmet need in various disorders, consistent with a previous report that anticipates that the orphan drug market will reach $262 billion in 2024.
“Total prescription sales are expected to be $1.2 trillion in 2024, due to novel therapies addressing key unmet needs, as well as increasing access to medicines globally. Payer scrutiny and sales losses from genericization and biosimilars will act as brakes on growth,” according to the report.
Novartis is expected to lead the prescription drug market, with $53.2 billion in sales in 2024, ahead of competitors Pfizer and Roche, both of whom will be in a close race for second place, reaching $51.2 billion and $50.6 billion, respectively.
Despite the entry of an adalimumab biosimilar being delayed until 2023, the reference adalimumab (Humira) is expected to remain the top-selling drug in 2024 despite a compound annual growth of —3% over the next 7 years.
“The growing power of payers, combined with the arguably underestimated threat of biosimilars and the genericization of some of the industry’s biggest products, including Humira,” could hold back growth, said the report. In total, $251 billion in sales are at risk between 2018 and 2024, creating a second “patent cliff” for the industry.
How AI Can Help Address Cost-Related Nonadherence to Biologic, Biosimilar Treatment
March 9th 2025Despite saving billions, biosimilars still account for only a small share of the biologics market—what's standing in the way of broader adoption and how can artificial intelligence (AI) help change that?
Will the FTC Be More PBM-Friendly Under a Second Trump Administration?
February 23rd 2025On this episode of Not So Different, we explore the Federal Trade Commission’s (FTC) second interim report on pharmacy benefit managers (PBMs) with Joe Wisniewski from Turquoise Health, discussing key issues like preferential reimbursement, drug pricing transparency, biosimilars, shifting regulations, and how a second Trump administration could reshape PBM practices.
The Biosimilar Void: 90% of Biologics Coming Off Patent Will Lack Biosimilars
February 5th 2025Of the 118 biologics losing exclusivity over the next decade, only 10% have biosimilars in development, meaning a vast majority of biologics have no pipeline, which limits savings potential for the health care system.
The Banking of Biosimilars: Insights From a Leading Health Economist
February 4th 2025Biosimilars have the potential to reduce health care costs and expand patient access, but economic and policy barriers affect adoption, explored James D. Chambers, PhD, MPharm, MSc, associate professor at the Tufts Medical Center Institute for Clinical Research and Health Policy Studies, in an interview.
