🌍 Exciting News on the Impact of Biosimilar Competition for Alpha Inhibitor Biosimilars in the EU 🌍
🏷 The NAVLIN Price & Access Data NEWS has recently published an insightful article* shedding light on the influence of competition among Alpha Inhibitor biosimilars in the European market and its direct correlation to price reductions.
The study found that upon the entry of the first biosimilar in the market, there was a notable price reduction of up to 14%. However, the real shift occurred with the introduction of the second biosimilar, leading to a significant price reduction of up to 27%.
📌 Notably, the research conducted by our team at NAVLIN Price & Access Data extends beyond these initial findings. We delved deeper and observed a critical turning point in the competition landscape. The true transformation arises when the third competitor enters the market. At this milestone, the originator faces the risk of being edged out of the tenders market, primarily due to the lowest price offered by the competitors.
It is essential to recognize that a substantial majority of tenders in the Life Science sector are awarded to either a single company or up to three companies. This makes the "magic number" for biosimilar competition, three.
⏳ The time it takes for three competitors to enter a market can vary based on numerous factors, including country-specific considerations. However, one constant trend we have discovered in our research is that the originator faces exclusion from tenders, sometimes entirely, once the third competitor gains a foothold in the market.
Moreover, our data showcases that price reductions can reach a remarkable 70% within 3-5 years from the Loss of Exclusivity (LoE) date, contingent on various factors, including geographical elements.
The LoE process requires delicate handling and meticulous planning and preparation. At NAVLIN Price & Access Data, we are fully equipped to support your journey through this process, ensuring smooth navigation of pricing and data challenges, including LoE preparedness.
Reference: cited article https://bit.ly/3OCtUdj
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