In October, Amgen released its full 2022 Biosimilar Trends Report. The report’s findings had been previewed earlier this year by Amgen’s Global Biosimilars Commercial Lead, Chad Pettit at a June 29th webinar hosted by ASBM and GaBI Journal.
The full report further documents the tremendous success of the U.S. biosmilars program in promoting competition, increasing biosimilar uptake, and generating savings for the U.S. health system. From the report:
To date in the US, 39 biosimilars have received regulatory approval, and 22 products have been launched. These launches have helped create an estimated $21 billion in savings for the healthcare system over the past 6 years.
- Biosimilars have gained significant U.S. market share in the majority of therapeutic areas where they have been introduced: 80% for filgrastim trastuzumab and bevacizumab biosimilars; 60% for rituximab biosimilars; and 40% for infliximab, pegfilgrastim, and erythropoietin-stimulating agent (ESA) biosimilars.
- Biosimilars are attaining significant market share more quickly: for therapeutic areas with biosimilars launched in the last 3 years, the average share was 74%…prior to 2019, the average share after 3 years was 38%.
Medicare Part B reimburses providers for biosimilars at the biosimilar’s Average Sales Price (ASP) plus a 6% addon of the reference biologic’s ASP. In other words, Congress kept the field level by providing physicians the same add-on amount regardless of whether they prescribe a reference product or a biosimilar. This helps all manufacturers compete on equal terms.
The report also emphasized that continued stakeholder education was critical to the market’s continued success:
As biosimilars expand into new therapeutic areas and enter the pharmacy benefit, education will continue to be critical to instill patient, provider, and pharmacist confidence in the role of biosimilars as viable and integral treatment options.