With multiple adalimumab biosimilars poised to enter the market and more biosimilars in more disease states seeking interchangeability, the US market is entering a new phase of biosimilar use.
While there are currently only 2 biosimilars with interchangeability designation, having more interchangeable biosimilars will start becoming a more important pharmacy benefit as biosimilars reach the US market, explained Jeffrey Casberg, MS, RPh, vice president of pharmacy at IPD Analytics, LLC, during a session at Asembia’s Specialty Pharmacy Summit, held May 2-5 in Las Vegas.
Casberg’s organization is tracking products that either have interchangeable biosimilars or that will have them in the future. On the radar are:
There is even more potential interchangeability among the insulins. There are 3 products: short-acting insulin lispro (Humalog), short-acting insulin aspart (NovoLog), and long-acting insulin glargine (Lantus). There is already an interchangeable biosimilar for insulin glargine (Semglee).
The most excitement remains around the adalimumab biosimilars, but there is some uncertainty how they will change the market trends. Right now, all of the approved adalimumab biosimilars are for the original 50 mg/ml formulation, which only has 20% or less market share.
“Payers are going to have to develop plans to move people—85% of the market—from the new formulation back to the old formulation,” Casberg explained, and it’s “unclear how successful that conversion would have been.”
However, there was recently an agreement between AbbVie, the maker of Humira, and Alvotech to allow a new formulation adalimumab biosimilar to launch mid 2023.
“Instead of this big hurdle and messy conversion…now, we're going to have both the old formulation and new formulation of adalimumab,” he said. This is easier for pharmacies, which won’t have to deal with the conversion, and payers, which won’t have to send letters to patients and providers explaining the conversation. Ultimately, having biosimilars available for both formulations will “make this adoption much more robust.”
According to Casberg, 2021 has brought the US biosimilar market into a new phase. The initial phase was 2013 to 2020. During this phase, the drugs were on the medical benefit side, and they were mostly less competitive. In the new phase, there are bigger brand names, pharmacy benefit drugs, more competitive therapeutic classes, interchangeable biosimilars are entering the market, and some of these biosimilars will be self-administered, he explained. However, in this new phase, there will also be physicians in specialties who are less familiar with biosimilars.
“So, I think we're going to start to see an increase in trajectory of the use of biosimilars in the United States,” Casberg said.
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.
Exploring the Biosimilar Horizon: Julie Reed's Predictions for 2024
February 18th 2024On this episode of Not So Different, Julie Reed, executive director of the Biosimilars Forum, returns to discuss her predictions for the biosimilar industry for 2024 and beyond as well as the impact that the Forum's 4 new members will have on the organization's mission.
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.
A New Chapter: How 2023 Will Shape the US Biosimilar Space for 2024 and Beyond
December 31st 2023On this episode of Not So Different, Cencora's Brian Biehn and Corey Ford take a look back at major policy and regulatory advancements in 2023 and how these changes will alter the space going forward.
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.