2021 was a big year for the pharmaceutical industry. In this article, we take a look at what’s around the corner as we embark on 2022.
Even though the industry has been busy with COVID-19 related matters since 2020, many businesses are still bracing for the influence of approaching generic rivals and what it could mean for their bottom lines. At some point, the patent expirations challenge the market exclusivity for all drugs. This year, an estimated $11 billion in first-time generics could become available, and patent protection will be lost for several. The table on page 2 provides a list including the drugs up for patent expiration in 2021.
With the sky-high prices of brand-only drugs, the development of generic alternatives is the solution, so patients won’t have to hand over their life savings or give up essential medications. Take a look at the top 20 specialty pipeline drugs going generic in 2021 and 2022, and the upcoming and recent generic and biosimilar launches:
To get a more detailed view of this report, view the Top 20 Specialty Pipeline Report.
A biosimilar product is similar to a generic for a specialty medication but isn’t officially generic as it is not a chemical equivalent medication. Biosimilars are a great way to save on costs while maintaining clinical quality. Many corporations are working to offer expanded medical pharmacy solutions intended to accommodate biosimilar approvals across high-cost and multifaceted disease categories. With reimbursement strategy efforts, 78% of payers reimbursed biosimilars the same way they reimbursed all medical benefit drugs in 2020. As of this year, the US Food and Drug Administration (FDA) has approved 29 biosimilars, plus four follow-on biologicals. Healthgram is committed to supporting the use of biosimilars whenever possible. The chart in this article shows the biosimilars approved in the US as of 2021.
As we head into cold and flu season, Healthgram understands the importance of knowing the difference between various viruses and the vaccines that are available to prevent them. The tables below showcase recent vaccination updates for various diseases including COVID-19 and Influenza:
Aligning with a trusted partner is critical to ensure your pharmacy benefits are on track for the coming year. Healthgram’s pharmacy experts help our clients stay ahead in an ever-evolving industry. For more pharmacy insights, view our recent articles or contact our team directly.
Sources:
Table 1: Emerging Therapeutics Specialty Pipeline
Tables 2-4: Perspective RX Pipeline
