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- W2810791619 abstract "Biosimilars offer potential for significant cost savings and enhanced patient access. Two new biosimilars have been approved by Food and Drug Administration for reference biologic, Remicade® (Inflectra® and Renflexis™) for Crohn’s Disease, ulcerative colitis, and rheumatoid arthritis. To the best of our knowledge, this is the first budget impact (BI) analysis of biosimilars in the United States (US) drug formulary. BI was conducted over three years using cost and market share inputs from 2017 for each of the biologics. Base case model assumed current market landscape for infliximabs (17% share) and no interchangeability between Remicade and it’s biosimilars. Two scenario analyses assumed interchangeability of reference biologic with biosimilars and increased market uptake for infliximabs due to cost reduction of treatment. Scenarios were calculated with varying price discounts from 20% to 35%. The robustness of the model was tested by extensive sensitivity analyses. The projected cost savings from the introduction of the biosimilars increased, amounting to $25.3 million over three years. Assuming interchangeability among infliximabs, the cumulative savings would be $38.3 million. With an increasing number of infliximabs, it is anticipated that infliximabs would acquire market share from other biologics, such as adalimumab. An overall 35% market share for infliximabs would result in cumulative savings of $52.0 million without and $78.9 million with interchangeability. This analysis employs a unique approach to understanding the BI of two or more biosimilars from regulatory and healthcare policy perspective. The model predicted that the introduction of infliximab biosimilars in the US is associated with significant cost savings at the payer-level. Additionally, it is anticipated that a greater number of biosimilars would further drive the costs down, resulting in improved patient access. BI analyses should consider all available biologics and biosimilars to accurately and precisely predict cost savings." @default.
- W2810791619 created "2018-07-10" @default.
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- W2810791619 date "2018-05-01" @default.
- W2810791619 modified "2023-10-14" @default.
- W2810791619 title "Shift in the Status Quo: How Biosimilar Interchangeability Can Lead to Significant Cost Savings" @default.
- W2810791619 doi "https://doi.org/10.1016/j.jval.2018.04.679" @default.
- W2810791619 hasPublicationYear "2018" @default.
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