Significant hurdles remain to biosimilars being commercialized beyond just regulatory approvals, including prescribers, who remain relatively unfamiliar with these still-new products, according to research by PwC’s Health Research Institute (HRI).
Clinicians surveyed by HRI in 2018 said they were wary of prescribing biosimilars.
HRI also found:
The biosimilars market is similar in some ways to the early generics market, requiring greater knowledge and familiarity to help increase prescribing while regulatory and legal issues are ongoing.
Biosimilars companies should consider investing in physician and patient education and detailing to accelerate biosimilar uptake. Few physicians and even fewer patients know what biosimilars are. Eighty-three percent of consumers were unable to correctly define what a biosimilar was in a 2016 HRI survey, which can lead to some doctors to avoid prescribing them due to lack of patient comfort.
For some biosimilar manufacturers, hiring detailers may help increase physician knowledge and prescribing. However, that will add costs for biosimilar manufacturers, which are already spending an estimated $100 million to $250 million per biosimilar approval, according to the FDA.
To get more information about the impact of biosimilars, download PwC's full report, Is new generic competition enough to lower drug costs?