Biologic medications are an integral, crucial, and effective part of medical management for many life-threatening diseases and conditions, including cancer. As a recent position paper by the European Society for Medical Oncology (ESMO) points out, the anticancer market is expected to pass the €140 billion (apx. $157 billion) by 2020.
Biologic medications are an integral, crucial, and effective part of medical management for many life-threatening diseases and conditions, including cancer. As a recent position paper by the European Society for Medical Oncology (ESMO) points out, the anticancer market is expected to pass the €140 billion (apx. $157 billion) by 2020, forcing nations around the world to confront the challenge of healthcare-system sustainability and patient access to these important medications. “Biological and medicinal products, or those whose active substance is made by a living organism, will represent 19% [to] 20% of the total global share of pharmaceutical sales by 2017, and thus form an essential part of the anticancer medicines offering,” ESMO explains.
Biosimilars, typically marketed at discounts relative to originator drugs, present a necessary opportunity for patients, physicians, and healthcare systems to positively impact the financial sustainability of global health systems when they are developed in clinically suitable ways, manufactured to correct standards, and used appropriately. Biosimilar clinical development must be recognized as an opportunity for healthcare in light of potential savings in a future where these drugs could compete with originator drugs, as noted by Emilio Bria (University of Verona) and Pierfranco Conte (University of Padua and Instituto Oncologico Veneto) in an accompanying editorial.
As the majority of monoclonal antibodies are due to reach patent expiry by 2020, the oncology landscape faces changes, ESMO notes. To ensure that patients are being prescribed the safest, most effective treatments possible, all key players must understand the complexities of biosimilars and make decisions in patients’ best interests. In addition, it is important to increase confidence in biosimilars among prescribers and patients so that continued adoption and uptake of biosimilars results in greater patient access to important biologic treatments.
The position paper, published in January 2017 in ESMO Open, describes issues concerning biosimilars that are particularly relevant to the oncology field:
The introduction of biosimilars is expected to have a cumulative potential savings of €50 billion to €100 billion by 2020. ESMO recommends monitoring the potential impacts of biosimilars on financial burdens in health care, keeping in mind that the potential savings has a direct correlation with the successful uptake of biosimilars. “Globally, the next 5 years will be important for biosimilars, for their uptake and their impact on healthcare systems,” the paper concludes.
Boosting Health Care Sustainability: The Role of Biosimilars in Latin America
November 21st 2024Biosimilars could improve access to biologic treatments and health care sustainability in Latin America, but their adoption is hindered by misconceptions, regulatory gaps, and weak pharmacovigilance, requiring targeted education and stronger regulations.
Biosimilars Policy Roundup for September 2024—Podcast Edition
October 6th 2024On this episode of Not So Different, we discuss the FDA's approval of a new biosimilar for treating retinal conditions, which took place in September 2024 alongside other major industry developments, including ongoing legal disputes and broader trends in market dynamics and regulatory challenges.
Breaking Down Biosimilar Barriers: Interchangeability
November 14th 2024Part 3 of this series for Global Biosimilars Week, penned by Dracey Poore, director of biosimilars at Cardinal Health, explores the critical topic of interchangeability, examining its role in shaping biosimilar adoption and the broader implications for accessibility.
Breaking Down Biosimilar Barriers: Payer and PBM Policies
November 13th 2024Part 2 of this series for Global Biosimilars Week dives into the complexities of payer and pharmacy benefit manager (PBM) policies, how they impact biosimilar accessibility, and how addressing these issues may look under a second Trump term.