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  • August 2018
  • Article
  • Review of Industrial Organization

The Impact of the Entry of Biosimilars: Evidence from Europe

By: Fiona M. Scott Morton, Ariel Dora Stern and Scott Stern
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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 U.S. 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; Healthcare Spending; Innovation; Health Care and Treatment; Spending; Market Entry and Exit; Competition; Innovation and Invention; Pharmaceutical Industry; United States; Europe

Citation

Scott Morton, Fiona M., Ariel Dora Stern, and Scott Stern. "The Impact of the Entry of Biosimilars: Evidence from Europe." Review of Industrial Organization 53, no. 1 (August 2018): 173–210.

Supplemental Information

Online Appendix
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About The Author

Ariel D. Stern

Technology and Operations Management
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Related Work

    • 2018
    • Faculty Research

    Online Appendix to the paper The Impact of the Entry of Biosimilars: Evidence from Europe

    By: Fiona M. Scott Morton, Ariel Dora Stern and Scott Stern
Related Work
  • Online Appendix to the paper The Impact of the Entry of Biosimilars: Evidence from Europe By: Fiona M. Scott Morton, Ariel Dora Stern and Scott Stern
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