February 13, 2023, Biosimilar utilization

There’s a lot of excitement in healthcare around biosimilars, and for good reason: with an average price 30% lower than their reference products, they promise much-needed relief from high-cost biologic drugs.

Yet for a variety of reasons, adoption of biosimilars, which are biologic agents shown to be highly similar to their FDA-approved reference product, has been slow to materialize in the U.S. Uptake here lags Europe, where the first regulatory approval came nearly a decade earlier than in the U.S. A recent report found that while many American health systems are utilizing biosimilars, few are using them more than their originator biologic drugs, due to payor demands for specific products, a lack of acceptance by providers, and the needs of managing prior authorization.

Recent studies suggest their market share is increasing more quickly in the U.S. than in Europe, however, with prices at introduction that ranged from 55% to 90% of their reference products. Many more biosimilars are in the pipeline, including seven FDA-approved biosimilars of adalimumab, the immunosuppressant drug branded as the blockbuster Humira, that are set to launch in 2023.

Biosimilars represent a tremendous opportunity for healthcare providers and pharmacy leaders to offer high-quality care at lower costs. With that in mind, The Craneware Group’s Clinical Solutions Team created  “High quality at lower costs: Practical tips for adopting biosimilars in your health system.” The eBook offers suggestions including:

  • How to get started in biosimilars
  • How to involve your organization’s P&T committee
  • How to select biosimilars for use
  • Which hospital teams to involve in implementation
  • Things to keep in mind for your communications strategy

You can download a copy of the eBook here.