Trending News Today: US Biosimilar Activity Expected to Pick Up in 2023
Top news of the day across the health care landscape.
By 2023, the biosimilar market in the United States will grow 3 times more than in 2019, resulting in nearly 10% cumulative savings, The Center for Biosimilars reported. According to the article, the new report from IQVIA predicts a lull in activity between 2019 and 2023 due to fewer losses of exclusivity in the biologics market. Despite this, IQVIA indicates that US spending on biologics in 2019 will be approximately $7 billion lower than it would be if no new biosimilars had entered the market after 2017, the article reported.
The Trump administration revealed a proposal taking aim at the prescription drug rebate system, the Associated Press reported. According to the article, the proposed rule would eliminate rebates among drug manufacturers, insurers, and pharmacy benefit managers and instead require that they be paid directly to patients at the pharmacy counter. The proposal would apply to Medicare prescription drug plans and Medicaid managed care plans, the article reported.
A new study suggests that kidney function worsens over time the more obese an individual becomes, Reuters reported. According to the article, the analysis indicated that individuals with the most severe obesity are twice as likely to develop impaired kidney function. Those who aren’t quite as obese have an 18% to 69% higher risk of developing reduced kidney function, the article reported.