The Growing Role of Biosimilars | OAS Episode 234
This podcast focuses on the use of biosimilar medicines in health care and the possible cost savings when they are used in place of originator biologic medications. Our three guests on this episode discuss the marketplace for biosimilars and how legislatures are tackling the issue.
NCSL Podcasts · Chad Pettit, Luca Maini, Erin Glossup, Ed Smith
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Show Notes
Biosimilars, a group of drugs that are similar to biologic drugs, which are medications produced using living organisms and are often used to treat complex medical conditions. Biosimilars were first introduced to the prescription drug market about a decade ago and as of March, the FDA had approved scores of products that may be used interchangeably for some of the most expensive brand-name biologic pharmaceuticals, treating conditions such as diabetes and cancer.
While biologics make up only about 2% of prescriptions, they account for as much as 46% of total drug spending in the U.S.
The three guests on this podcast all have expertise on different aspects of this topic and discuss the use of biosimilar medicines in health care and the possible cost savings when they are used in place of originator biologic medications.
Luca Maini is an economist who studies the pharmaceutical industry and is an assistant professor at Harvard Medical School. Chad Pettit is executive director of global government affairs for Amgen, a biotechnology company. Erin Glossop is a policy specialist at NCSL who follows state policies around pharmaceuticals.
Maini discussed his research into how the introduction of biosimilars into a market affects the price of brand-name biologics. Pettit explained the perspective from the biotechnology industry and how he thinks the industry will develop in the next several years. Glossop explained how some states are developing bipartisan policy around biosimilar access and efforts to find cost-savings these products might offer.
Resources
- Amgen Biosimilars
- Assessing the Biosimilar Void in the U.S., IQVIA
- Biosimilars in the United States 2023-2027, IQVIA
- Biosimilar Uptake In The US: Patient And Prescriber Factors, Dongzhe Hong, et al.
- Coverage for Biosimilars vs Reference Products Among US Commercial Health Plans, James D. Chambers, et al.
- Exploring the Influence of Health Insurance Plans on Biosimilar Adoption Rates, Mariana Socal, et al.
- Factors Associated with Biosimilar Exclusions and Step Therapy Restrictions Among US Commercial Health Plans, Tianzhou Yu, et al.
- Luca Maini website