Two-thirds of the respondents to our 2022 annual Pharmacy Survey believe that biosimilars will have a significant effect on drugs prices over the next several years.
Third of six parts
The Inflation Reduction Act may have thrown a wrench in the works. But otherwise, there is some momentum building for biosimilars. Thirty-seven biosimilars have been approved by the FDA and 22 are launched, according to our colleagues at Center for Biosimilars.® Next year may be something of a breakthrough, with a number of biosimilars to Humira (adalimumab) schedule to come on the market next year.
By a 2-to-1 ratio, respondents to our 2022 Pharmacy Survey see biosimilars as having their intended effect: 66% indicated that they believe biosimilars will have a significant effect on drug expenditures over the next several compared to just 25% who didn’t (9% had no opinion).
At the same time, a similar proportion (65%) agreed that lawmakers and regulators need to take steps to end the “patent thickets” — taking out many patents on a drug — that keep biosimilars off the market.
Many observers of the industry believe that interchangeability, the easy substitution of biosimilars for brand-name reference products, is important to the commercial and clinical success of biosimilars. Roughly a third (36%) of the respondents to our survey said interchangeability is important and 41% said it was somewhat important.
The survey had more than 950 respondents. It was distributed by Managed Healthcare Executive® and Pharmacy Times® in late June and early July. A large percentage of the respondents (38%) indicated that they work for pharmacy benefit managers.