Reducing the high cost of prescriptions that both employers and employees pay at the pharmacy is no easy task. Demographic changes and the increase of available pharmaceutical solutions is driving up prices. However, the use of generic and so-called biosimilar drugs can help. While generics use identical ingredients to their FDA-approved brand-name cousins, biosimilars, while not using identical ingredients, have been shown to work the same in the body.
A report from McKinsey & Co, entitled "An Inflection Point for Biosimilars," says global sales topped $15 billion in 2020, representing a compound annual growth rate of 56% since 2015. They further state that the market is set to continue its double-digit growth, doubling in size to more than $30 billion by 2025, and over $60 billion by the end of the decade,
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.