Today’s publication of the latest IMS Health report on the ‘Impact of Biosimilar Competition’, requested by the European Commission, has been welcomed by the Association of the British Pharmaceutical Industry’s Biological Medicines Access Group (ABPI BMAG).
19 Jun 2016 Posted in News Release By Dr Virginia Acha
The data in the updated report confirms the importance of competition in releasing cost efficiencies for health services and emphasises the need for a sustainable biological medicines market. The report states that long term savings can be achieved through competition between multiple players but also warns against “too high short term savings”, which might undermine market sustainability.The report gathers contributions from the ABPI, as well as from the European Federation of Pharmaceutical Industries and Associations (EFPIA), Medicines for Europe and EuropaBio, and contains the addition of 2015 data and analysis on the biological medicines market to improve understanding and help inform policy development and local decision making.The ‘Impact of Biosimilar Competition’ contains the following key findings:Competition drives down the price: the increased competition affects not just the price for the directly comparable product but also has an effect on the price of the whole product class. Correlation between biosimilars market share and price is weak: high savings can be achieved even if the biosimilar market share low. Competition can also influence the originator behaviour: originators have acted differently in many cases than what had been experienced for small molecules. Lower prices have the most impact on usage in countries with low initial usage: in countries which used to have low usage / availability in the classes the price reduction seems to have a significant impact on increased access. Number of competitors to drive down prices: there is a small correlation between the number of competitors and price reduction.The report has been launched at a workshop today on access to biosimilar medicines in Europe, organised by the European Commission Directorate General for the Internal Market, Industry, Entrepreneurship and SMEs (DG Grow). At this workshop, healthcare professionals, academics, healthcare authorities, press and industry will meet to share experiences with biosimilar medicines across Europe. The outcomes of this event will be available online.Dr Virginia Acha, the ABPI’s Executive Director of Research, Medical and Innovation, commented:“This report draws timely attention to the fact that biosimilar medicines are not generics, and neither is their market.The recommendations also highlight the need to think differently as to how we develop the right policies and practices for these medicines to ensure their appropriate uptake in clinical care, generate well-informed patient engagement and establish an effective procurement pipeline.The growth of a vibrant and competitive market for biologics is a win-win for the NHS, offering considerable cost saving opportunities and the opportunity to widen patients’ access to innovative medicines.Moving forward, the ABPI will continue to work in partnership with industry, the NHS and other national and European partners to ensure the effective use of biologics, including biosimilar medicines.”NOTES TO EDITORSAbout the ABPIThe ABPI represents innovative research-based biopharmaceutical companies, large, medium and small, leading an exciting new era of biosciences in the UK.Our industry, a major contributor to the economy of the UK, brings life-saving and life-enhancing medicines to patients. Our members supply 90 per cent of all medicines used by the NHS, and are researching and developing over two-thirds of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome diseases.The ABPI is recognised by government as the industry body negotiating on behalf of the branded pharmaceutical industry, for statutory consultation requirements including the pricing scheme for medicines in the UK.Media enquiriesABPI Press OfficeEmail: firstname.lastname@example.orgTelephone during work hours (9am to 5pm Monday to Friday): +44 (0) 20 7747 7147 or +44 (0) 20 7747 1441Telephone out of hours (5pm to 9am and weekends): +44 (0) 20 7747 1445