The adoption of biosimilars will lead to some $110 billion in health savings through 2020 across the U.S. and Europe, according to a new report from the IMS Institute for Health Informatics. Biosimilars compete directly with branded biologics that are now going off patent – and in five years, they’ll account for 20 percent of the global pharmaceutical market.
Nearly 50 biosimilars are in development, the report says, which will lead to heavy competition and “significant untapped potential” globally. Here’s an incredible infographic that shows where the biosimilars for four key biologics – Humira, Enbrel, Remicade and Rituxan – sit in the pipeline:
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Of course, at first biosimilars won’t be significantly cheaper than biologics, but given the expense of these complex drugs, that could still tally up to notable savings. The extent of the savings, IMS says, will depend on regulatory policy – because “considerable variations across the EU in payer policy approaches are limiting the biosimilar opportunity.” It varies from country to country, as seen in this infograph that tracks pricing changes following biosimilar introduction:
The price discrepancy between branded biologics and biosimilars will likely change as time goes by, however, as the report outlines:
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A biosimilar for rheumatoid arthritis drug Humira, called adalimumab, will face the highest competition as it loses patent protection. Here are some other biologics under serious competitive pressure:
Encouraging “viable competitive markets” for biosimilars and biologics alike is the “key to unlocking savings and improving access,” the report says.
“Health systems best positioned to capitalize on the benefits of biosimilars support functioning competitive markets – where manufacturers are motivated to participate over the long term, and where physicians are at the heart of the decision making process,” the report says.
