Christine Simmon, senior vice president of policy and strategic alliances for the Association for Accessible Medicines (AAM) and executive director of The Biosimilars Council, told The Center for Biosimilars® at the 2017 AAM Biosimilars Council Conference that upcoming product approvals in the biosimilar space are exciting prospects not only for the industry, but, most importantly, for patients.
Christine Simmon, senior vice president of policy and strategic alliances for the Association for Accessible Medicines (AAM) and executive director of The Biosimilars Council, told The Center for Biosimilars® at the 2017 AAM Biosimilars Council Conference that upcoming product approvals in the biosimilar space are exciting prospects not only for the industry, but most importantly, for patients.
“Certainly, the more competition we have for expensive—and wonderful—biologic medicines is the best thing for patients and for the marketplace in general. To think that we will, hopefully, soon have 7 biosimilars approved is very exciting for the industry," says Simmon.
Looking ahead to upcoming product approvals, such as the expected approval of biosimilar bevacizumab this week, Simmon said, “The oncology field is a very exciting one for biosimilars; we want to work hard with the entire cancer community to educate providers and patients about the value of biosimilars, because there still is a lot of confusion out there.”
In attempting to allay some of that confusion, Simmons says that she wants patients to feel confident in using biosimilar medications prescribed to them by their healthcare providers: “I’d like patients to know that, when the FDA approves a biosimilar, they’re approving it as a safe and effective medicine that is highly similar to the biologic, and that the difference between a biosimilar and a biologic is really no different from batch-to-batch biologics. So, I want them to know that they can have confidence in the FDA and in their medical professionals who are prescribing these biosimilars, and that they can have confidence in these products.”
While patients have not yet seen significant reductions in their out-of-pocket costs with the introduction of 3 biosimilar products in the US marketplace, Simmons sees strong potential for more biosimilar products competing for market share with biologics to increase patient access to these expensive treatments. According to Simmon, “1.2 million patients will have access to biologics and biosimilars just as a result of biosimilars entering the market. In particular, female patients, elderly patients, and low-income patients will benefit. We think there’s so much room for growth and a positive patient experience with these products.”
The road ahead for biosimilars will be a challenging one, however. As Simmons says, “We have a long way to go, but the FDA is clearly working hard, and we think it’s very encouraging that they’ve released a lot of the critical guidance.” And ultimately, “The more products the better, the more we’ll learn about the marketplace, patient acceptance, and provider support for these products. It’ll still be in flux for a while as we continue to learn.”
Julie Reed: Why 2024 Is Important for Biosimilars
April 17th 2024Julie Reed, executive director of the Biosimilars Forum, showcases how the biosimilar industry is expected to develop throughout 2024, including major policy changes and hope for continued improvement in market share for adalimumab biosimilars.
Decoding the Patent Puzzle: Navigating the Legal Landscape of Biosimilars
March 17th 2024On this episode of Not So Different, Ha Kung Wong, JD, an intellectual patent attorney and partner at Venable LLP, details the confusing landscape that is the US patent system and how it can be improved to help companies overcome barriers to biosimilar competition.
Alvotech’s Stelara Biosimilar, Selarsdi, Receives FDA Approval
April 16th 2024Alvotech’s Selarsdi (ustekinumab-aekn), a biosimilar referencing Stelara (ustekinumab), gained FDA approval, making it the second ustekinumab biosimilar and second for the company to be given the green light for the American market.
Biosimilars Rheumatology Roundup for February 2024—Podcast Edition
March 3rd 2024On this episode of Not So Different, The Center for Biosimilars® revisited all the major rheumatology biosimilar news from February 2024, including the FDA approval of the 10th adalimumab biosimilar, the promise for an oral delivery system for ustekinumab, and the impact of adalimumab products on COVID-19 antibodies.
BioRationality: Removing the Misconceptions Surrounding Interchangeability
April 15th 2024Sarfaraz K. Niazi, PhD, outlines the current state of interchangeable biosimilars in the US and policy changes needed to clear up misconceptions surrounding the meaning behind interchangeability designations.
Global Biosimilar Market Projected to Reach $1.3 Trillion by 2032
April 11th 2024The global biosimilar market is projected to surge from $25.1 billion in 2022 to approximately $1.3 trillion by 2032, with a compound annual growth rate of 17.6%, driven mainly by the increasing prevalence of cancer and the cost-effectiveness of biosimilars, as outlined in a report by Towards Healthcare.