Who We Are

The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

IMS Institute Report: Biosimilar Drugs Could Save Up to $110 Billion by 2020

R&D 1London, England, March 30, 2016 ― Ben Hirschler reports for Reuters that lower-cost copies of complex biotech drugs, known as biosimilars, could save the United States and Europe’s five top markets as much as 98 billion euros ($110 billion) by 2020, according to a new analysis by IMS Institute for Healthcare Informatics said.

Realizing those savings, however, depends on effective doctor education and healthcare providers adopting smart market access strategies, the report said.

A saving of 98 billion euros is based on eight major branded biotech drugs, including AbbVie’s Humira and Roche’s Herceptin, that are set to lose patent protection over the next five years.

It also assumes an average biosimilar price discount of 40 percent, and savings would fall to 74 billion euros at a 30 percent discount and 49 billion at 20 percent.

The IMS forecast covers Germany, France, Italy, Britain, Spain and the United States.

For the full Reuters story, click here.