The forecast comes from pharmacy professor Begoña Calvo-Hernáez, from the University of the Basque Country, who suggested in research published this week that eventually biosimilars are going to have “an importance on a par with that of the introduction of small molecule generics.”
Calvo-Hernáez told BioPharma-Reporter.com that: “The savings are not as high as the 40% savings provided by generics, they are around 20%” adding that “the high cost of their treatments, lead to annual savings in Europe around €1.8bn.”
The saving vary according to the product and European country involved Calvo- Hernáez continued, explaining that: “Some products, such as filgrastim biosimilars have a high rate of uptake in some countries, while the market penetration for others is less but will increase.”
But by 2020, however, the situation will be very different with – according to Calvo- Hernáez – the introduction of biosimilar monoclonal antibodies alone having the potential to “save over €20bn in Europe.”
2020 vision
This forecast is roughly in line with the prediction of Novartis’s CEO, Joe Jimenez, last month that who said that while biosimilars will have a huge impact it will not be felt until more originator biopharmaceutical go off patent.
However, for Calvo- Hernáez the tipping point is more closely linked to the actions of doctors and patients and how information about the availability of biosimilar products is communicated.
She said that: “It is essential that physicians receive scientific, rigorous and robust information and take into account the biosimilar specificities in clinical practice,” explaining that such data is vital when prescribing a replacement to an existing biopharmaceutical.
“It is also important to inform patients about the pharmacological treatments they are receiving” Calvo- Hernáez continued adding that they need to be reassured that a biosimilar product is as “effective and safe as the original drug.”
She also suggested the robust nature of European biosimilars regulations will help grow the market and weed out weaker products.
“For approval in Europe, the product must pass stringent tests and trials. These requirements guarantee the biosimilar is as safe and effective,” Calvo- Hernáez said, adding that: “If a product is not approved, it implies that does not meet the strict quality standards.”
And Biopharma-Reporter will be delving deeper into the issues affecting biosimilars with a free virtual event on September 26. Join four industry experts as they discuss the development, manufacture and sale of such products in a 60 minute seminar hosted by our Editor-in-Chief Gareth Macdonald. Click here for more details...