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The Impact of the Entry of Biosimilars: Evidence from Europe

Fiona M. Scott Morton (), Ariel Dora Stern () and Scott Stern ()
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Fiona M. Scott Morton: Yale School of Management
Ariel Dora Stern: Harvard Business School
Scott Stern: Massachusetts Institute of Technology

Review of Industrial Organization, 2018, vol. 53, issue 1, 173-210

Abstract: Abstract Biologics represent a substantial and growing share of the U.S. drug market. Traditional “small molecule” generics quickly erode the price and share of the branded product upon entry, however only a few biosimilars have been approved in the US since 2015, thereby largely preserving biologics from competition. We analyze European markets, which have had biosimilar competition since 2006. Using our own survey, we analyze how market features and public policies predict biosimilar entry, price, and penetration, finding significant heterogeneity across countries and products. Effective buyer institutions are associated with increased biosimilar penetration. Our estimates can inform ongoing policy discussions.

Keywords: Health care; Biosimilars; Biologics; Pharmaceutical competition; Health care spending; Innovation (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:kap:revind:v:53:y:2018:i:1:d:10.1007_s11151-018-9630-3