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Biosimilars and Their Impact on Humira’s Market Share
Biosimilars offer a promising alternative to expensive biologic drugs like Humira, potentially reducing costs for patients and healthcare providers. Since the introduction of Amjevita in January 2023, the landscape for Humira biosimilars has evolved. This article explores recent market trends, the variety of available biosimilars, cost implications, and the opportunity for a Biosimilar Advantage Formulary℠.
Market Share Trends
The uptake of Humira biosimilars was initially slow due to hesitancy among patients and providers. However, recent months have seen a notable increase in their adoption. This shift has been driven by growing confidence in their efficacy and safety and improved insurance coverage. At Serve You Rx, our clients have begun seeing positive trends toward biosimilars and plan savings. For example, we recently helped one client switch two members who were previously using Humira to a biosimilar that costs approximately $1,275 a month for an annualized savings of over $120,000.
Available Humira Biosimilars
As of now, the FDA has approved 10 Humira biosimilars, including Amjevita (adalimumab-atto), Cyltezo (adalimumab-adbm), Hyrimoz (adalimumab-adaz), Hadlima (adalimumab-bwwd), Abrilada (adalimumab-afzb), and Hulio (adalimumab-fkjp), and others. Each of these biosimilars offer some unique benefits, including:
- Citrate Free: Cyltezo and Hadlima are citrate-free, which can reduce injection site pain, making them more comfortable for patients.
- Concentration: Hyrimoz is available in a higher concentration, which can reduce the frequency of injections, offering greater convenience to patients.
- Dosage Form: There are various options for dosage forms, including auto-injectors like Amjevita and Hulio, as well as pre-filled syringes. This variety allows patients to choose the form that best suits their preferences and ease of use.
Cost Information
Transitioning to biosimilars can significantly lower medication costs. For example, Amjevita’s list price is approximately 55 percent lower than Humira’s. Patients transitioning to biosimilars have generally reported positive experiences, with minimal issues regarding efficacy or safety. Studies and real-world data suggest that the therapeutic outcomes of these biosimilars are comparable to those of the original biologic.
Introducing the Biosimilar Advantage Formulary
Our Biosimilar Advantage Formulary presents a strategic opportunity to streamline the adoption of biosimilars. This formulary provides clear guidelines and incentives for their use, ensuring that both patients and providers are well-informed about the benefits. The primary benefits of such a formulary include:
- Cost Reduction: A significant reduction in overall healthcare costs through increased biosimilar usage.
- Improved Access: Easier and more affordable access to essential medications for patients, enhancing their overall treatment experience.
The Biosimilar Advantage Formulary offers brokers and consultants a strategic approach to addressing biologic drug costs. This data-driven solution balances quality care with lower upfront costs, providing tangible benefits for clients and their members. By offering this formulary, you can provide innovative strategies that address cost concerns, potentially strengthening client relationships.
Conclusion
Introducing Humira biosimilars like Amjevita has opened doors to more cost-effective treatment options. With multiple biosimilars now available, healthcare providers and patients can benefit from reduced costs and improved medication access. Embracing a Biosimilar Advantage Formulary can enhance these benefits, ensuring a sustainable and patient-centric approach to biologic treatments.
Stay tuned for part two, where we delve deeper into the clinical experiences and patient feedback on biosimilars. In the meantime, let us know your current biosimilar strategy in our poll.
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About Serve You Rx®
Serve You Rx is a full-service pharmacy benefit manager (PBM) with unquestionable flexibility and an unwavering commitment to doing what's best for its clients. With a fervent focus on those it serves, including insurance brokers, consultants, third-party administrators, and their clients, Serve You Rx delivers exceptional service and tailored, cost-effective benefit solutions. Independent and privately held for nearly 40 years, Serve You Rx can implement new groups in 30 days or less and say "yes" to a wide variety of viable solutions. Known for its adaptability, quality, and client-centricity, Serve You Rx aims to be a benchmark for better client service.
