Samsung Bioepis flags shifting PBM models and deepening price erosion in US biosimilar market

New Delhi: Samsung Bioepis Co., Ltd. has released its First Quarter 2026 Biosimilar Market Report, the twelfth edition of its quarterly analysis of the US biosimilar landscape.

The report offers a comprehensive snapshot of all biosimilars available in the United States, covering regulatory approvals and launch status, pricing trends based on Average Sales Price (ASP) and Wholesale Acquisition Cost (WAC), and market uptake by molecule.

This edition’s Deep Dive section examines the evolving Pharmacy Benefit Manager (PBM) rebate contract model in the US and explores how emerging frameworks could shape future biosimilar adoption.

Commenting on the report, Thomas Newcomer, Vice President and Head of US Commercial Operations at Samsung Bioepis, said that as the US healthcare market moves into 2026, approaches to prescription drug pricing and management are continuing to shift. Alongside traditional PBM contracting structures, newer models focused on alternative pricing and reimbursement mechanisms, greater transparency, and increased fiduciary responsibility are gaining traction in response to changing market dynamics. He noted that the report highlights these developments and assesses how changes in PBM rebate frameworks may influence utilization trends, including their potential impact on biosimilars.

The market analysis shows that as of December 2025, the US had approved up to 90 biosimilars across 20 distinct biological molecules, with 63 of these products—around 70 percent—already launched. Biosimilar entry has driven substantial price erosion over time across several molecules, with ASPs declining by an average of 52 percent within five years of the first biosimilar launch. In more mature markets, price reductions have reached as high as 77 percent, although ASP trends are not always linear due to factors such as deliberate price repositioning and product withdrawals.

In ophthalmology, reference aflibercept currently faces only one launched biosimilar competitor offering a WAC discount of 12 percent, even as four additional aflibercept biosimilars await clearance to enter the market. In immunology, the report notes that while private-label branding remains common for adalimumab and ustekinumab, most ustekinumab biosimilars have not pursued dual or high-WAC pricing strategies to the same extent seen in the adalimumab market.