Biosimilars Potential Value | Pfizer Biosimilars

What are the potential cost savings that biosimilars can bring to healthcare systems?

US costs in oncology

Total spending on US cancer care is projected to rise 34% from 2015 to 2030
Financial management is one of the top concerns of surveyed hospital CEOs
Biosimilars may help reduce costs in oncology, as they have been associated with $56 billion in savings across all therapeutic areas where they have been introduced (eg, inflammation, supportive care, and oncology) since 2013 and are projected to produce an estimated $181 billion in savings from 2023 to 2027

Increased biosimilar competition has led to decreased price for every therapeutic agent in oncology and supportive care where biosimilars are available

Oncology therapeutic antibodies: As of 1Q2023, 47%–59% below originator average sales price (ASP) from the time biosimilar was launched
Supportive care: As of 1Q2023, 38%–68% below originator ASP from the time biosimilar was launched

Extensive use and growing demand for biologics come at a time when there is increasing need for savings and efficiencies within the healthcare system. Biosimilar medicines may provide cost savings for patients who can benefit from biologic medicines. By potentially providing more affordable options, biosimilar medicines can allow for the reallocation of resources to other areas of patient care. In addition, biosimilars could lead to earlier intervention with the appropriate biologic medicines, potentially improving treatment outcomes.

CHANGING THE LANDSCAPE

The creation of a sustainable and competitive marketplace for originator biologics and biosimilars has the potential to improve patient access to biologics, increase treatment options, and generate savings for healthcare systems.

Potential cost savings from biosimilars to healthcare systems may be substantial

Cost savings to healthcare systems due to biosimilars may be substantial. Biosimilars have been associated with $56 billion in savings since the passage of the Biosimilars Act in 2010 and are projected to produce an estimated $181 billion in savings from 2023 to 2027, based on a January 2023 IQVIA report.

THE POTENTIAL TO IMPROVE OUTCOMES

Biosimilars may offer additional treatment options that may increase savings for healthcare systems and expand the use of biologic therapies, which may lead to better overall health outcomes.

BIOSIMILARS may offer a number of potential benefits to various stakeholders

Potential of biosimilars for patients, payers, and providers

INCREASED

use of
biologics

Additional treatment choices at lower cost to the healthcare system

Improved

access and
outcomes

Increase access to biologics, which may lead to improved health outcomes overall

Expanded

options for
patients

A variety of therapeutic options

What can biologics and biosimilars

mean for healthcare value?