Benefits of biosimilars
Biosimilars are versions of brand-name biological drugs that are highly similar to their reference products but are typically more affordable. This affordability can significantly expand the treatment options available to patients with chronic inflammatory conditions.
Biological products are the fastest-growing class of therapeutics in the U.S., accounting for a substantial portion of healthcare costs.1
Biosimilars, much like generic medications, provide a cost-effective alternative to brand-name biologics through specialty pharmacies.2,3 Industry research indicates that biosimilars may offer savings of up to 40% compared to the reference product’s price.4
Despite biosimilars’ potential, their adoption has been slow, primarily due to uncertainties about benefit coverage. However, this trend is changing as more healthcare providers and pharmacy benefit managers (PBMs) begin to prefer biosimilars. This shift is driving increased utilization of these alternatives, including critical areas such as oncology, where 67% of oncologists now feel comfortable switching patients to biosimilars.5