Investing in the Future With Biosimilars

Explore the potential biosimilars may offer in helping reduce costs to the health care system

Biologics accounted for almost half of all US drug spending in 2019.* As rising costs continue to challenge the health care system, how can biosimilars help decrease costs and increase access?

*Aitken M, Kleinrock M, Muñoz E. Biosimilars in the United States 2020–2024: competition, savings, and sustainability. IQVIA Institute for Human Data Science report. September 29, 2020. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/biosimilars-in-the-united-states-2020-2024

How can the health care system sustain the cost burden of biologics?

Biologics are essential medicines in the mitigation and treatment of many serious illnesses, including cancers and chronic conditions.^1,2 Preserving access to these treatments is important as the need for them grows—since 2013, there has been a dramatic increase in patients diagnosed with autoimmune conditions such as Crohn’s disease, ulcerative colitis, psoriasis, and rheumatoid arthritis (RA).³

Biologics can be costly^2,4

In 2019, US spending on biologics reached $211 billion⁵

A clear need for lower costs and greater access across the health care system is why the FDA passed the Biologics Price Competition and Innovation Act (BPCI) Act.²

Discover the impact adoption rates may have on the potential for benefits

FDA, Food and Drug Administration.

References: 1. Mulcahy AW, Hlávka JP, Case SR. Biosimilar cost savings in the United States: initial experience and future potential. Rand Health Quarterly. 2018 Mar;7(4). 2. Biosimilars Action Plan. Balancing Innovation and Competition. US Food and Drug Administration. July 2018. Accessed March 22, 2023. https://www.fda.gov/media/114574/download 3. Aitken M, Kleinrock M. Medicine use and spending in the U.S.: a review of 2018 and outlook to 2023. IQVIA Institute for Human Data Science. May 9, 2019. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/medicine-use-and-spending-in-the-us-a-review-of-2018-and-outlook-to-2023 4. Atzinger CB, Guo JJ. Biologic disease-modifying antirheumatic drugs in a national, privately insured population: utilization, expenditures, and price trends. Am Health Drug Benefits. 2017;10(1):27–36. 5. Aitken M, Kleinrock M, Muñoz E. Biosimilars in the United States 2020–2024: competition, savings, and sustainability. IQVIA Institute for Human Data Science. September 29, 2020. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/biosimilars-in-the-united-states-2020-2024 6. Harnett J, Wiederkehr D, Gerber R, et al. Primary nonadherence, associated clinical outcomes, and health care resource use among patients with rheumatoid arthritis prescribed treatment with injectable biologic disease-modifying antirheumatic drugs. J Manag Care Spec Pharm. 2016;22(3):209–218. doi:10.18553/jmcp.2016.22.3.209

Biosimilars are currently being used less than a third of the time¹

Overall use of biosimilars has risen since the first biosimilars were approved in the United States, but future savings from biosimilars may depend in part on their uptake by stakeholders.^1,2

A lack of trust in using biosimilars may contribute to a loss of savings potential²

In response, educational efforts and leadership from health-system pharmacists may help stakeholders adopt biosimilars with more confidence³

Overall, the potential for savings to the health care system may depend on how biosimilars are utilized moving forward.⁴

Learn how competition from biosimilars may help lower costs for the health care system

FDA, Food and Drug Administration.

References: 1. Aitken M, Kleinrock M. Medicine use and spending in the U.S.: a review of 2018 and outlook to 2023. IQVIA Institute for Human Data Science. May 9, 2019. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/medicine-use-and-spending-in-the-us-a-review-of-2018-and-outlook-to-2023 2. Aitken M, Kleinrock M, Muñoz E. Biosimilars in the United States 2020–2024: competition, savings, and sustainability. IQVIA Institute for Human Data Science. September 29, 2020. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/biosimilars-in-the-united-states-2020-2024 3. Zlatkus A, Bixby T, Goyal K. Considerations for the US health-system pharmacist in a world of biosimilars. Drugs Context. 2020;9:2019-12-1. doi:10.7573/dic.2019-12-1 4. Mulcahy AW, Hlávka JP, Case SR. Biosimilar cost savings in the United States: initial experience and future potential. Rand Health Quarterly. 2018 Mar;7(4).

Biosimilars offer a potential for savings, increased choices, and improved access across the health care system^1,2

What the FDA set in motion with the BPCI Act was the opportunity for competitive pricing from biosimilars to provide potential future savings to the health care system.^1,2

As competition increases from biosimilar adoptions, the potential for significant savings to the health care system increases as well.²

Consider the potential for
biosimilars in the years to come

FDA, Food and Drug Administration; BPCI, Biologics Price Competition and Innovation.

References: 1. Biosimilars Action Plan. Balancing Innovation and Competition. US Food and Drug Administration. July 2018. Accessed March 22, 2023. https://www.fda.gov/media/114574/download 2. Mulcahy AW, Hlávka JP, Case SR. Biosimilar cost savings in the United States: initial experience and future potential. Rand Health Quarterly. 2018 Mar;7(4).

Help the future evolve

In 2019, biologics accounted for almost half of all US drug spending.¹ What impact might biosimilars have on the health care system?

The cost of biologics continues to rise and burden the health care system.^2–4

A slow embrace of biosimilar adoption may hamper future savings potential.¹

The ultimate goal of biosimilars is to help potentially reduce costs and increase access across the health care system.^2,5

Will the full potential biosimilars may offer the health care system be realized? It may depend on the utilization of biosimilars moving forward.¹

Additional Biosimilars Resources

Download a comprehensive roadmap for adopting biosimilars.

Biosimilars roadmap—for institutions

Roadmap for health care professionals for considering, implementing, and monitoring biosimilar adoption in an institution.

Download Learn more

Biosimilars roadmap—for physicians

Roadmap for health care professionals for considering, implementing, and monitoring biosimilar adoption in a private practice setting.

Download Learn more

References: 1. Aitken M, Kleinrock M, Muñoz E. Biosimilars in the United States 2020–2024: competition, savings, and sustainability. IQVIA Institute for Human Data Science. September 29, 2020. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/biosimilars-in-the-united-states-2020-2024 2. Biosimilars Action Plan. Balancing Innovation and Competition. US Food and Drug Administration. July 2018. Accessed March 22, 2023. https://www.fda.gov/media/114574/download 3. Atzinger CB, Guo JJ. Biologic disease-modifying antirheumatic drugs in a national, privately insured population: utilization, expenditures, and price trends. Am Health Drug Benefits. 2017;10(1):27–36. 4. Aitken M, Kleinrock M. Medicine use and spending in the U.S.: a review of 2018 and outlook to 2023. IQVIA Institute for Human Data Science. May 9, 2019. Accessed March 22, 2023. https://www.iqvia.com/insights/the-iqvia-institute/reports/medicine-use-and-spending-in-the-us-a-review-of-2018-and-outlook-to-2023 5. Mulcahy AW, Hlávka JP, Case SR. Biosimilar cost savings in the United States: initial experience and future potential. Rand Health Quarterly. 2018 Mar;7(4).

Investing in the Future With Biosimilars

How can the health care system sustain the cost burden of biologics?

In 2019, US spending on biologics reached $211 billion5

Discover the impact adoption rates may have on the potential for benefits

In 2019, US spending on biologics reached $211 billion⁵