Amanda Forys, MSPH: I know that we’re really new to the biosimilars market here in the [United States], but the European community has been doing this for quite a few years now, and they’ve had some significant savings in biosimilars.
I think we’ve also seen some really innovative payment models, kind of structured around the use of products and risk-sharing agreements and outcomes-based type contracts. I think we have a lot of different things going on in the [European Union] that have contributed to that savings.
But here in the [United States], we’re new, and we’re not quite seeing the uptake that we maybe expected from these products. How do you think that’s going to change over time?
Christy M. Gamble, JD, DrPH, MPH: Well, we’re hoping that conversations like this will actually affect the cost that we’re seeing now.
When we’re looking at biologics, the prices are exorbitant. [With] patient populations, you have 2 sets: 1 set that’s willing to take the risk on paying for these medications, and another set that says, “it’s just out of my reach right now.”
When it comes to biosimilars, you’re only seeing about a 10% to 15% difference in price when it comes to biologics and biosimilars, so patients are not really seeing the cost savings when it comes to these drugs. But we’re hoping that, in the future as more drugs come onto the market, as more therapies come onto the market, that we’ll see more competition.
We’re seeing a lot of change in policy right now that will provide some nice incentives to manufacturers and developers that will hopefully add to that competition and lower costs. And then putting pressure on manufacturers to lower the cost if we can start having these discussions of drug pricing.
AON Saves Over $243 Million With High Biosimilar Adoption
April 22nd 2024Thanks to high biosimilar adoption rates within the community oncology setting, American Oncology Network (AON) saved upwards of $243 million between 2020 and 2023, according to a presentation at the Festival of Biologics USA conference in San Diego, California.
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.
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.
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.
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.
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.