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Drug Price Trends for NEULASTA
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Best Wholesale Price for NEULASTA
| Drug Name | Vendor | NDC | Count | Price ($) | Price/Unit ($) | Unit | Dates | Price Type |
|---|---|---|---|---|---|---|---|---|
| NEULASTA ON PRO 6MG/0.6ML INJ | Amgen USA, Inc. | 55513-0192-01 | 0.6ML | 4370.39 | 7283.98333 | ML | 2022-01-01 - 2026-01-31 | FSS |
| NEULASTA 6MG/0.6ML INJ SINGLE-USE SYRINGE | Amgen USA, Inc. | 55513-0190-01 | 1 | 4020.10 | 4020.10000 | EACH | 2023-01-01 - 2026-01-31 | FSS |
| NEULASTA 6MG/0.6ML INJ SINGLE-USE SYRINGE | Amgen USA, Inc. | 55513-0190-01 | 1 | 2614.85 | 2614.85000 | EACH | 2021-02-01 - 2026-01-31 | Big4 |
| >Drug Name | >Vendor | >NDC | >Count | >Price ($) | >Price/Unit ($) | >Unit | >Dates | >Price Type |
NEULASTA Market Analysis and Financial Projection
Market Analysis and Price Projections for Neulasta (Pegfilgrastim)
Introduction
Neulasta, marketed by Amgen Inc., is a pegylated form of the recombinant human granulocyte colony-stimulating factor (G-CSF) analog filgrastim, known as pegfilgrastim. It is used to manage chemotherapy- and radiotherapy-induced neutropenia in cancer patients. Here, we delve into the market analysis and price projections for Neulasta and its biosimilars.
Market Size and Growth
The global pegfilgrastim biosimilars market is experiencing significant growth driven by several key factors. As of 2024, the market is estimated to be valued at USD 1.69 billion and is projected to reach USD 3.07 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031[1].
Another report indicates that the global pegfilgrastim biosimilar market stood at USD 1.41 billion in 2023 and is expected to grow at a CAGR of 10% to reach USD 3.66 billion by 2033[3].
Drivers of Market Growth
Several factors are driving the growth of the pegfilgrastim biosimilars market:
Increasing Incidence of Cancer
The rising incidence of cancer worldwide is a primary driver, as pegfilgrastim is a critical component in the supportive care of cancer patients, helping to manage neutropenia induced by chemotherapy and radiotherapy[1][3].
Patent Expiry and Biosimilar Entry
The expiry of patents for major reference biologic drugs, including Neulasta, has allowed for the commercialization of biosimilars. Neulasta lost its exclusivity in the U.S. in 2018, paving the way for multiple biosimilar entrants. These biosimilars are significantly lower priced than the originator brand, making them more accessible to patients and healthcare systems[1].
Cost Savings
Biosimilars offer significant cost savings compared to their reference biologics. This cost reduction is a major factor in their adoption by hospitals, cancer care centers, and patients struggling with healthcare costs[1][3].
Market Dynamics and Challenges
Coverage Strategies
The adoption of biosimilars is heavily influenced by coverage strategies employed by payers. Sole preferred coverage strategies can lead to significant price reductions, while non-sole preferred coverage results in moderate price changes. For example, Neulasta saw a decline in market share after the introduction of its biosimilars, but it remained dominant in its drug class[2].
Regulatory and Reimbursement Barriers
High entry barriers and stringent regulatory pathways can initially hamper the uptake of pegfilgrastim biosimilars. Disparities in reimbursement policies and potential anti-substitution laws in some countries can also impact pricing and adoption scenarios[1].
Price Projections and Sales Trends
Decline in Neulasta Sales
The sales of Neulasta have been declining since the introduction of biosimilars. GlobalData reports that Neulasta sales stood at USD 848 million in 2023, with a historical decline of 28% between 2020 and 2023. This decline is expected to continue due to the increasing competition from biosimilars[4].
Biosimilar Pricing
Biosimilars of Neulasta are priced significantly lower than the originator drug. For instance, the introduction of biosimilars has led to market share changes, with biosimilars becoming preferred options in many cases. This shift has resulted in substantial cost savings for healthcare systems and patients[2].
Regional Market Outlook
Emerging Markets
Emerging markets such as China and India are expected to adopt pegfilgrastim biosimilars faster, contributing to global revenue growth. These regions have large patient populations and are more likely to benefit from the cost savings offered by biosimilars[1].
Regulatory Incentives
Regions like Europe and Asia Pacific have implemented regulations to incentivize the uptake of biosimilars, further driving market growth. These regulatory incentives help in expanding patient access to these cost-effective treatments[1].
Key Players and Market Competition
The pegfilgrastim biosimilars market is competitive, with several key players including Coherus BioSciences, Mylan N.V., Biocon, Sandoz (a Novartis division), Pfizer Inc., and others. These companies are investing in novel drug delivery systems and collaborating with regional distributors to enhance market penetration[1].
Mechanism of Action and Indications
Pegfilgrastim, as Neulasta, is indicated for the treatment of several hematological disorders and toxicology therapy areas. It works by decreasing the incidence of infection, as manifested by febrile neutropenia, in patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs. It also reduces the duration of neutropenia and the incidence of febrile neutropenia in adult patients treated with cytotoxic chemotherapy[4].
Conclusion
The market for Neulasta and its biosimilars is poised for significant growth driven by increasing cancer incidence, patent expiry, and the cost savings offered by biosimilars. Despite challenges such as regulatory barriers and reimbursement disparities, the adoption of biosimilars is expected to continue, driven by favorable coverage strategies and regulatory incentives.
Key Takeaways
- The global pegfilgrastim biosimilars market is projected to grow significantly, driven by rising cancer incidence and cost savings.
- Patent expiry of reference biologics like Neulasta has enabled the entry of multiple biosimilars.
- Coverage strategies by payers play a crucial role in the adoption and pricing of biosimilars.
- Emerging markets are expected to adopt biosimilars faster, contributing to global revenue growth.
- Regulatory incentives in regions like Europe and Asia Pacific support the uptake of biosimilars.
FAQs
What is Neulasta and how does it work?
Neulasta, or pegfilgrastim, is a pegylated form of the recombinant human granulocyte colony-stimulating factor (G-CSF) analog filgrastim. It works by stimulating the production of white blood cells to reduce the incidence of infection in patients undergoing chemotherapy or radiotherapy.
Why are biosimilars of Neulasta gaining traction?
Biosimilars of Neulasta are gaining traction due to their significant cost savings compared to the originator drug. The expiry of Neulasta's patent has allowed multiple biosimilars to enter the market, offering cheaper alternatives without compromising on quality or efficacy.
What are the key drivers of the pegfilgrastim biosimilars market?
The key drivers include the rising incidence of cancer, the expiry of patents for reference biologics, and the cost savings offered by biosimilars. Additionally, favorable coverage strategies and regulatory incentives in various regions are driving market growth.
How do coverage strategies impact the adoption of pegfilgrastim biosimilars?
Coverage strategies by payers significantly impact the adoption of biosimilars. Sole preferred coverage strategies can lead to significant price reductions, while non-sole preferred coverage results in moderate price changes, influencing the market share and adoption rates of biosimilars.
What challenges do pegfilgrastim biosimilars face in the market?
Pegfilgrastim biosimilars face challenges such as high entry barriers, stringent regulatory pathways, disparities in reimbursement policies, and potential anti-substitution laws in some countries.
Which regions are expected to drive the growth of the pegfilgrastim biosimilars market?
Emerging markets like China and India, along with regions like Europe and Asia Pacific, are expected to drive the growth of the pegfilgrastim biosimilars market due to their large patient populations and favorable regulatory environments.
Sources
- Coherent Market Insights: Pegfilgrastim Biosimilars Market - Price, Size, Share & Growth.
- Center for Biosimilars: The Role of Coverage Strategies in Biosimilar Market Impact and Cost Savings.
- Fact.MR: Pegfilgrastim Biosimilar Market Size, Demand & Growth Report.
- GlobalData: The Global Drug sales of Neulasta (2020 - 2026, USD Millions).
- Aon: Pharmacy Solution's Biosimilar Trend Report - The Keys to Biosimilar Adoption.
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