Biopharmaceutical drugs hold transformative potential. Since they first emerged in the 1980s, biopharmaceutical drugs, or biologics, have made a significant impact on treatment for patients suffering from debilitating conditions in immunology, ophthalmology and oncology, among many other disease areas. While pain, progressive disability and the loss of ability to work are par for the course for many of these conditions, biologics can offer significant improvements in symptoms, work productivity and quality of life.
The challenge is that biologics are often expensive, and health care budgets are increasingly constrained. High costs often mean that patients who could benefit from treatment do not receive biologics. Even across Europe, there are dramatic differences in access and use. Barriers to treatment are significant, and access is often limited to severe stages of the disease.
Biosimilars, alternatives to already licensed biological therapies, can help expand access to treatment and alleviate some of the financial burdens on our health care systems while still providing the same benefits of reference biologic treatments. They have the potential to democratize patient access to biologic therapies and support the sustainability of our health care systems.
The introduction of biosimilars stimulates competition, bringing down prices and allowing for more patients to be treated with biologic therapies. Reduced costs make it viable to treat patients earlier in their disease progression course, which can significantly improve patient outcomes. Biosimilars offer savings that can be invested in additional services and in new, innovative treatments.
Unlocking the potential of biosimilars can deliver sustainable, long-term value for patients, physicians, health care systems and society as a whole.
Watch the video below:
Biogen-171231 September 2022
“Biosimilars have the potential to treat millions of people while saving billions for health care systems around the world. More cost-efficient versions of life-changing biologics bring both immediate savings and long-term benefits to society as a whole.”
Ian Henshaw, Global Head of Biosimilars, Biogen
To read more about how the uptake of biosimilars can optimize the sustainability of our health care systems, read the IQVIA report “Spotlight on Biosimilars: Optimising the Sustainability of Health care Systems”, available here.
References
https://www.iqvia.com/insights/the-iqvia-institute/reports/spotlight-on-biosimilars
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6447826/#:~:text=Biological%20therapies%20such%20as%20anti,)%2C%20Crohn%27s%20disease%20(CD
https://scholar.harvard.edu/files/sinha/files/kinch2015.pdf
https://www.iqvia.com/-/media/iqvia/pdfs/library/white-papers/the-impact-of-biosimilar-competition-in-europe-2021.pdf
https://investors.biogen.com/static-files/019bc8a4-527e-4565-a58b-91ef680630c1
Biogen-173408 September 2022
