Biosimilars
Like little kids on a road trip, those of us in healthcare keep asking about biosimilars, “are we there yet?” And like most parents, we keep saying, “soon.” Regular updates are important, however, to keep us engaged and motivated to make optimal use of these beneficial agents as they become available.
Approximately 40% of American men and women will be diagnosed with cancer at some point in their lives,1 with the cost of cancer care in the United States projected to exceed $245 billion by 2030.2
Washington, DC—On September 6, 2023, the Association for Accessible Medicines, the leading trade association for generic and biosimilar manufacturers, released its 2023 U.S. Generic & Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar medicines.
On September 21, 2022, the Association for Accessible Medicines (AAM), the leading trade association for generic and biosimilar manufacturers, released its 2022 U.S. Generic & Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar medicines.
Biosimilars have been available in the United States for more than 5 years, and in Europe for more than 15 years, yet we still see reluctance in the adoption of these drugs.
By Steven Selde
Biosimilars provide more options for care at a lower cost for patients, but due to Medicare’s perverse incentives, many pharmacy benefit managers and health plans have been slow to prioritize biosimilars, leaving savings on the table.
By William King
Currently, 33 biosimilar products have been approved by the FDA, 22 of which have been launched in the United States.
Biologic drugs, which include therapeutic proteins and monoclonal antibodies, are large complex molecules typically manufactured in genetically engineered organisms.
In recent years, biologics have increasingly been used for the treatment and supportive care of patients with various serious illnesses, including cancer.