Biosimilars will introduce genuine competition into an area of healthcare that until now has been largely unavailable. Competition can help reduce prices and help free up public funds to broaden overall access to healthcare. But, the real "value of biosimilars, first and foremost, needs to go to the patients."1,2
For biosimilars, the value proposition goes beyond the need for cost reduction relative to the innovator biologic drug and must incorporate the diverse needs of all of the key HCP stakeholders while maintaining clinical efficacy and safety outcomes similar to the originator biologic.
For Patients – The value of biosimilars will be the increased access to highly effective and often life-saving biological products due to a lower cost. Patients will experience value through potentially lower copayments and preferential tier placement.
For Providers – The value of biosimilars is based on interest in making certain their patients can afford the treatments they prescribe. Providers are looking toward the potential cost-savings for their patients as well as their practices.
For Payers – The value of biosimilars will be stimulated through the competitive pressures and the ability to induce price competition in the market place.
Although the US marketplace has just begun approving biosimilars, the perception of the value of biosimilars by stakeholders is clear.
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