The Center for Biosimilars (CB) interviewed Joseph P. Fuhr, Jr, PhD, professor emeritus, Widener University, and editorial board member of The Center for Biosimilars, on where the field stands today.
CB: What would be an ideal way to expand familiarity with biosimilars within the medical healthcare community?
Fuhr: Educational programs are the best way and this includes such entities as the FDA, pharmaceutical companies, and payers to educate physicians and patients.
CB: How can the oncology community in particular benefit from extended knowledge of biosimilars and, conversely, benefit the biosimilar industry?
Fuhr: Oncology drugs are some of the highest priced drugs. Biosimilars can decrease the price of these drugs, thus increasing access and improving the quality of life of more patients.
CB: Do you believe that biosimilar treatment options will make treatment more affordable?
Fuhr: Yes. Competition will lead to lower prices and we have seen this in the European Union.
CB: What would be the best-case scenario for biosimilar incorporation into mainstream medicine from a healthcare policy/cost perspective?
Fuhr: As patents expire and more biosimilars enter [the market], prices will decrease. It will take a while for the market to fully develop.
CB: What, in your opinion, is the greatest benefit represented by biosimilar uptake?
Fuhr: Lower prices and greater access, which will benefit consumers and help decrease prices in the healthcare market. Also, it will result in innovators’ attempting to find benefits on new drugs as profits on old drugs decline. Biosimilars will thus benefit society.
CB: Do you recognize the need for educating healthcare professionals and patients on biosimilars?
Fuhr: Many patients and physicians are unaware of what biosimilars are and the process that they must go through to achieve FDA approval. People are not going to purchase or prescribe something which they do not understand.
CB: Would biosimilars raise challenges with formulary management for health plans and for clinical pharmacies?
Fuhr: Any time a new alternative comes to market, formulary management and clinical pharmacies must make a decision on the circumstances under which they will adopt the alternative. So, they must decide on the quality and price of the product to determine not only if it will go onto the formulary but also on what tier in terms of health plans.
Commercial Payer Coverage of Biosimilars: Market Share, Pricing, and Policy Shifts
December 4th 2024Researchers observe significant shifts in payer preferences for originator vs biosimilar products from 2017 to 2022, revealing growing payer interest in multiple product options, alongside the increasing market share of biosimilars, which contributed to notable reductions in both average sales prices and wholesale acquisition costs.
Biosimilars in America: Overcoming Barriers and Maximizing Impact
July 21st 2024Join us as we explore the complexities of the US biosimilars market, discussing legislative influences, payer and provider adoption factors, and strategies to overcome industry challenges with expert insights from Kyle Noonan, PharmD, MS, value & access strategy manager at Cencora.
Boosting Health Care Sustainability: The Role of Biosimilars in Latin America
November 21st 2024Biosimilars could improve access to biologic treatments and health care sustainability in Latin America, but their adoption is hindered by misconceptions, regulatory gaps, and weak pharmacovigilance, requiring targeted education and stronger regulations.
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.
Panelists Stress Stakeholder Education to Build Confidence in Biosimilars
October 31st 2024By expanding educational initiatives to clarify biosimilar safety, efficacy, and interchangeability, stakeholders can foster trust, improve access, and ensure that biosimilars are widely accepted as high-quality, cost-effective alternatives to originator biologics.