Payers
Biosimilars Support Sustainable Healthcare Spending
Prescription drug costs for disease-modifying treatments (DMTs) in neurology are on the rise, placing a heavy financial burden on the healthcare system.1
For example, disease-modifying biologics are used to treat a variety of neurological conditions, such as Alzheimer’s, Parkinson’s disease, multiple sclerosis (MS) and stroke.2 According to the Association for Accessible Medicines, biologics represent 2% of all prescriptions but more than 50% of all pharmaceutical spending.3
The cost burden of MS exemplifies the problem. In 2019, the total economic burden of MS in the US was $85.4 billion. An estimated $63.3 billion was associated with direct medical costs, of which DMTs were shown to be a leading cost driver.1
Biosimilars have the potential to generate significant savings for the healthcare system and increase patient access to potentially life-changing medicines.4
For example, disease-modifying biologics are used to treat a variety of neurological conditions, such as Alzheimer’s, Parkinson’s disease, multiple sclerosis (MS) and stroke.2 According to the Association for Accessible Medicines, biologics represent 2% of all prescriptions but more than 50% of all pharmaceutical spending.3
The cost burden of MS exemplifies the problem. In 2019, the total economic burden of MS in the US was $85.4 billion. An estimated $63.3 billion was associated with direct medical costs, of which DMTs were shown to be a leading cost driver.1
Biosimilars have the potential to generate significant savings for the healthcare system and increase patient access to potentially life-changing medicines.4
Generating significant healthcare savings
Spending on prescription medicines in the US is at an all-time high. By 2025, it is expected to grow to $597 billion.5 Patients with neurological conditions have felt this acutely. Between 2011 and 2017, the annual cost of disease-modifying treatments for one neurological condition alone more than doubled, going from $453 million to $1.32 billion.6
See why patients and prescribers can feel confident in the safety and efficacy of biosimilars.
See why patients and prescribers can feel confident in the safety and efficacy of biosimilars.
Expanding access to potentially life-changing medicines
The introduction of affordable, high-quality biosimilars has expanded access to efficacious treatment options for patients worldwide.8
1.2M patients
An estimated 1.2 million patients will have access to potentially life-changing medicines because of the availability of lower-cost biosimilars for the 7 leading biologics.8
Sandoz: Working toward a more sustainable future
Sandoz is delivering on its belief that biosimilars are essential for reducing healthcare costs and expanding access to safe, effective medicines.
Photos used are not of actual patients or healthcare professionals.
References
- Bebo B, Cintina I, LaRocca N, et al. The economic burden of multiple sclerosis in the United States. Neurology. 2022:98;e1810‑e1817.
- Biologics Prescribers Collaborative. Biologics, biosimilars, & neurological disorders. https://biologicsprescribers.org/wp-content/uploads/2022/04/BPC_Biologics-Biosimilars-Neurological-Disorders_One-Pager_May-2022.pdf. Accessed August 2, 2022.
- Association for Accessible Medicines. The U.S. generic & biosimilars medicines savings report 2021. https://accessiblemeds.org/sites/default/files/2021-10/AAM-2021-US-Generic-Biosimilar-Medicines-Savings-Report-web.pdf. Published October 2021. Accessed April 20, 2022.
- U.S. Food & Drug Administration. Overview of Biosimilar Products. https://www.fda.gov/media/151058/download. Accessed July 3, 2022.
- Keehan SP, Stone DA, Poisal JA, et al. National health expenditure projections, 2016-25: price increases, aging push sector to 20 percent of economy. Health Affairs. 2017;36:553‑563.
- Hartung DM, Johnston KA, Geddes J, Bourdette DN. Effect of generic glatiramer acetate on spending and use of drugs for multiple sclerosis. Neurology. 2020;94(13):e1407‑e1414.
- Mulchay A, Buttorff C, Finegold K, Oliver JF. Projected US Savings From Biosimilars, 2021-2025. The American Journal of Managed Care. January 2022.
- Biosimilars in the United States: Providing More Patients Greater Access to Lifesaving Medications. http://biosimilarscouncil.org/wp-content/uploads/2019/03/Biosimilars-Council-Patient-Access-Study.pdf. Published 2019. Accessed July 3, 2022.