A key factor in overcoming barriers to United States market entry is sharing the positive experiences of both healthcare professionals and patients, explained HoUng Kim, Head of Strategy and Operations Division, Celltrion Healthcare during a presentation at SMi Biosimilars USA Conference in Iselin, NJ, that took place November 14-15, 2018.
A key factor in overcoming barriers to United States market entry is sharing the positive experiences of both healthcare professionals and patients, explained HoUng Kim, Head of Strategy and Operations Division, Celltrion Healthcare during a presentation at SMi Biosimilars USA Conference in Iselin, NJ, that took place November 14-15, 2018.
In discussing the value of biosimilars to the healthcare system, Kim cited data from IMS Health that found that “biosimilars could lead to cumulative savings of up to $107 billion by 2020 in the United States and the top 5 European Union [EU] countries.” While the EU has been ahead of the curve when it comes to approving and prescribing biosimilars, the US market has been slower to generate uptake as the first product was approved some 10 years prior in the EU than in the United States.
Kim highlighted several challenges facing the US biosimilar market, such as physicians and patients alike lacking confidence in the products due to a “low level of education and awareness.” He discussed the results of 2 surveys that found that “67% of patients said they were ‘unaware’ of biosimilars,1 and when responding to the question ‘is a biosimilar safe?” 70% of patients said ‘no.’”2 In addition, he also mentioned the alleged “anti-biosimilar campaigns” that run in the United States as increasing the negative perception of biosimilars, as well as patent litigation that hinders biosimilars entering the market.
In discussing ways to address these market barriers, Kim emphasized that it’s not a task that can be accomplished by any one company alone. “In particular, it is important to highlight best practice[s] and work together to ensure as many patients as possible in the [United States] have access to treatment through the use of high quality, more cost-effective biosimilars,” he said.
When looking ahead to the future of the biosimilars market, Kim announced that Celltrion was looking forward to launching subcutaneous biosimilar infliximab next year. “We expect that this will generate further cost savings in addition to improved convenience as dual formulations would provide therapeutic approaches to optimize patient outcomes.”
References
1. Jacobs I, Singh E, Sewell KL, Al-sabbagh A, Shane LG. Patient attitudes and understanding about biosimilars: an international cross sectional survey. Patient Prefer Adherence. 2016;10:937-948.
2. Cohen H, Beydoun D, Chien D, et al. Awareness, Knowledge, and Perceptions of Biosimilars Among Specialty Physicians. Adv Ther. 2016;33(12):2160-2172.
Biosimilar Market Development Requires Strategic Flexibility and Global Partnerships
April 29th 2025Thriving in the evolving biosimilar market demands bold collaboration, early global partnerships, and a fresh approach to development strategies to overcome uncertainty and drive future success.
How AI Can Help Address Cost-Related Nonadherence to Biologic, Biosimilar Treatment
March 9th 2025Despite saving billions, biosimilars still account for only a small share of the biologics market—what's standing in the way of broader adoption and how can artificial intelligence (AI) help change that?
Addressing Patent Abuse, Reimbursement Models Key to Sustainable Biosimilar Market
April 25th 2025Sonia T. Oskouei, PharmD, emphasized strategies to streamline regulations and evolve to overcome barriers and expand the availability of cost-effective biosimilar treatments across more therapeutic areas.
Will the FTC Be More PBM-Friendly Under a Second Trump Administration?
February 23rd 2025On this episode of Not So Different, we explore the Federal Trade Commission’s (FTC) second interim report on pharmacy benefit managers (PBMs) with Joe Wisniewski from Turquoise Health, discussing key issues like preferential reimbursement, drug pricing transparency, biosimilars, shifting regulations, and how a second Trump administration could reshape PBM practices.
Decade of Biosimilars Yields $36 Billion in Savings and Strengthens Supply Chain
April 24th 2025Dracey Poore, MS, director of biosimilars and emerging therapies at Cardinal Health, highlighted that biosimilars saved $36 billion over the last decade by improving patient access and the supply chain, but continued education and a robust pipeline are crucial for future growth.
Eye on Pharma: Sandoz Files Antitrust Suit; Yuflyma Interchangeability; Costco’s Ustekinumab Pick
April 22nd 2025Sandoz's antitrust suit against Amgen, the FDA’s interchangeability designation for Celltrion’s adalimumab biosimilar, and the inclusion of an ustekinumab biosimilar in Costco’s prescription program highlight growing momentum to expand biosimilar access and affordability for patients with chronic inflammatory diseases.