By Tim Roberts, Director, Strategy, McCann Health Managed Markets
The entry of biosimilars in the marketplace has been highly anticipated based on the promise to promote competition and alleviate financial pressures in the health system. Manufacturers continue to see opportunities for growth as demonstrated by their commitment to bring new biosimilars to market.1,2
Looking ahead, biosimilar growth will continue, particularly in 2023. A significant market disruption is expected in the immunology category in 2023 when up to 10 adalimumab, 5 ustekinumab and 1 tocilizumab biosimilar products are anticipated to launch.3
Biosimilars in the United States
U.S. policymakers view biosimilars as a tool to help reduce drug spending and have passed legislation to further promote biosimilar uptake. Policy efforts to promote biosimilar utilization have largely been successful as physicians have become increasingly comfortable prescribing biosimilars, paving the way for new biosimilar market entrants.
Market share data reflect providers’ increased willingness to prescribe biosimilar therapies, as biosimilars continue to gain share vs the originator product. In at least one case, the biosimilar has displaced the originator (ie, Neupogen®).3
Although initially skeptical, providers’ familiarity and experience with biosimilars have increased their prescribing comfort, according to a recent Cardinal Health provider survey.3
Population health decision makers (PHDM) are taking different approaches to leverage the potential cost benefits of increased biosimilar utilization.
PDHM tools include biosimilar-first formulary offerings, originator exclusions, and mandated conversion from originator to preferred biosimilar product.
Biosimilar-first formulary offerings
2022 PBM originator exclusions9
Mandated conversion from originator to preferred biosimilar product
As controlling rising health care costs continues to be a public priority, the demand for biosimilar utilization will continue to grow. Despite this demand, originator manufacturers can take steps to protect market share as the number of biosimilar entrants in the marketplace increases.
Enhance brand value story by leveraging real-world evidence (RWE) data to reinforce proven efficacy and outcomes
Identify hard-to-treat or underserved sub-populations where brand has a compelling clinical story
Deliver best-in-class patient assistance programs as an experience differentiator
Explore opportunities that communicate the clinical and economic implications related to switching stable patients to therapeutic alternatives
To help you navigate the evolving biosimilar market, turn to McCann Health Managed Markets.
1 How many biosimilars have been approved in the United States?
2 New and upcoming biosimilar launches
3 2022 Cardinal Health Biosimilars Report: The U.S. Journey and Path Ahead
4 Biologics Price Competition and Innovation Act of 2009, 42 U.S.C section 262 (k)
5 New US Legislation creates momentum for biosimilars
6 Biosimilars-first medical preferred drug list
7 “Biosimilar First” policy at Mayo Clinic nets big cost savings
8 Real-world evidence of a successful biosimilar adoption program
9 Five Takeaways from the big three PBMs’ 2022 formulary exclusions