The International Society for Pharmacoeconomics and Outcomes Research is holding its Europe 2019 meeting this week in Copenhagen, Denmark, and the savings that biosimilars can afford European healthcare systems are a hot topic at this year’s event. Two studies presented on Monday explored how Amgen’s biosimilar bevacizumab (Mvasi) and biosimilar trastuzumab (Kanjinti) could produce significant cost savings for hospitals in the Italian healthcare system.
The International Society for Pharmacoeconomics and Outcomes Research (ISPOR) is holding its Europe 2019 meeting this week in Copenhagen, Denmark, and the savings that biosimilars can afford European healthcare systems are a hot topic at this year’s event. Two studies presented on Monday explored how Amgen’s biosimilar bevacizumab (Mvasi) and biosimilar trastuzumab (Kanjinti) could produce significant cost savings for hospitals in the Italian healthcare system.
First, a research team presented on a cost-minimization analysis of per-patient costs and potential savings that could be delivered by using the biosimilar bevacizumab instead of the reference for all indications reimbursed in Italy, which aimed to estimate the consequences of the biosimilar’s introduction over the coming 5 years.1
Only drug costs were used, given that no differences in administration costs are expected between the reference and the biosimilar. Public drug prices were used for the reference, and a 20% discount was used for the biosimilar. Bevacizumab expenditure in Italy for 2017 was used for the budget impact analysis, and biosimilar uptake was derived from a case history of rituximab biosimilars.
The researchers report that using the biosimilar could generate savings that range from €5797 (approximately USD $6472) per patient per year when used to treat metastatic colorectal cancer to €11,595 (approximately USD $12,944) per patient per year when used to treat metastatic renal cell cancer. Over 5 years, using the biosimilar could save €145.4 million (approximately USD $162.3 million), and with increasing discounts over time, those savings numbers could grow even more.
The landscape for biosimilar trastuzumab is slightly more complex, given the fact that the originator Herceptin has a subcutaneously administered formulation available, which has the advantage of limited drug preparation time and reduced administration time.
In a cost comparison model, a second research team sought to estimate the costs from a hospital perspective for 20 patients treated with either the intravenously administered biosimilar or the subcutaneous reference product over a period of 17 cycles.2
The costs considered included drug acquisition, administration, consumables, and pharmacists’ time compensation. Public drug prices were used in the analysis.
The researchers says that, over 17 cycles, the total costs for the biosimilar were €8499 (approximately USD $9485) per patient versus €17,929 (approximately USD $20,010) per patient with the subcutaneous formulation of the reference drug. Drug costs were the primary driver of these results, at €12,012 (approximately USD $13,406) versus €21,497 (approximately USD $23,992) for the 2 products, respectively.
For the 20 patients considered together, the total cost of trastuzumab treatment with the biosimilar was €239,110 (approximately USD $266,859) versus €427,698 (approximately USD $477,332) for the reference in its subcutaneous form.
“When all relevant medical costs are considered,” say the investigators, “treatment with Kanjinti is associated with significant hospital budget savings compared to treatment with [subcutaneous Herceptin], contributing to longer-term sustainability of the healthcare spending.”
References
1. Despiégel N, Cirillo L, Gaikwad I. Cost-minimization and five-year budget impact analysis for Mvasi (bevacizumab biosimilar) in Italy. Presented at: ISPOR Europe 2019; November 2-6, 2019; Copenhagen, Denmark. Abstract PCN113.
2. D’Arpino A, Savoia M, Cirillo L, et al. Comparative cost analysis of subcutaneous trastuzumab originator (Herceptin) vs intravenous trastuzumab biosimilar (Kanjinti) from a hospital perspective in Italy. Presented at: ISPOR Europe 2019; November 2-6, 2019; Copenhagen, Denmark. Abstract PCN72.
AMCP Posters Tackle Interchangeability and Medicaid, Factors Driving Biosimilar Access
April 24th 2024Two posters from the Academy of Managed Care Pharmacy (AMCP) annual meeting explore how an interchangeable insulin glargine biosimilar plays into Medicaid budgets and the top factors driving access to biosimilars.
What AmerisourceBergen's Report Reveals About Payers, Biosimilar Pricing Trends
May 28th 2023On this episode of Not So Different, Tasmina Hydery and Brian Biehn from AmerisourceBergen discussed results from a recent survey, that were also presented at Asembia 2023, diving into the payer perspective on biosimilars and current pricing trends across the US biosimilar industry.
The 6 Key Policy Factors to Ensure Biosimilar Market Sustainability
April 16th 2024Magnus Bodin, senior director and head of international access and policy at Biogen, presented warning signs for unsustainable biosimilar markets as well as key factors needed to create effective policies and future-proof biosimilar markets globally.
Pipelines and Preparation: How the US Can Prepare for More RA Biosimilars
April 16th 2023What can practices do to prepare for all the biosimilars to treat rheumatoid arthritis (RA) coming down the pipeline? And how can they ensure that the lower-than-anticipated adoption rates for infliximab biosimilars are not repeated? Robert Zutaut, RPh, from McKesson Provider Solutions, tackles all this and more on this episode of Not So Different.
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.
Study: More Biosimilar Competition Is Not Lowering Patient OOP Costs
March 29th 2024Despite more biosimilars entering the market and generating significant savings for payers and health care systems, these savings are not resulting in lower out-of-pocket (OOP) costs for patients, according to a recent study.