Price Discounts Have Driven Higher Biosimilar Usage, Especially in Oncology

Lower biosimilar prices have resulted in higher market share, with oncology biosimilars bring more price-sensitive than supportive care or immunology biosimilars on the market, according to a new report from Samsung Bioepis.¹

Approximately midway through 2023, there are now 37 biosimilars that have launched in the United States and a total of 41 have been approved by the FDA. The latest in the biosimilar space landscape was the introduction of 7 adalimumab (Humira) biosimilars over the first week of July.

The second quarter of 2023 had 1 new biosimilar approval, which was Yuflyma, an adalimumab biosimilar.

“So far in 2023, we have seen the start of biosimilars being launched within pharmacy benefits. This is the start of [a] new beginning for biosimilars in the United States,” Tom Newcomer, vice president, head of Market Access, US, Samsung Bioepis, said in a statement.² “We hope Samsung Bioepis Biosimilar Market Report brings value to healthcare stakeholders involved in the decision-making process, providing an up-to-date perspective on the US biosimilar landscape,” he added.

WAC and ASP

A report from Samsung Bioepis outlined a positive correlation between biosimilar usage and average sales price discounts.

The stated wholesale acquisition cost (WAC) for oncology biosimilars represents a modest discount of 10% to 25% compared with the reference product, but these biosimilars can save the health care system more than 70% compared with the reference based on savings seen in average sales price (ASP), according to the report.

Trazimera has the largest WAC discount among the trastuzumab biosimilars, at 22% compared with the reference product, Herceptin. Among bevacizumab biosimilars, Zirabev has the largest WAC discount of 23% compared with Avastin. Rituximab biosimilars Ruxience and Riabni both have 24% WAC discounts compared with Rituxan.

In the supportive care space, pegfilgrastim and epoetin alfa reference products have matched the ASP of biosimilars in an attempt to retain market share. “By matching ASP, the 2 [epoetin alfa] reference products have maintained a combined 65% share, but that share fell by 7% in the latest quarter,” the report states.

The pegfilgrastim biosimilars have all offered steep discounts for WAC, with Fulphila and Udenyca at 35% and Ziextenzo and Nyvepria at 39% discounts compared with Neulasta. Retacrit, the only epoetin alfa biosimilar, is available at a 59% WAC discount to Procrit and at a 34% discount to Epogen. Releuko is offering the largest WAC discount of 52% of all the filgrastim biosimilars compared with Neupogen.

The report highlighted that in the infliximab space, the biosimilars all launched with progressively lower WACs—Inflectra was the first to launch at a 19% discount, Renflexis launched at a 35% discount, and Avsola launched as a 57% discount compared with the reference product, Remicade.

In the ophthalmology space, the ranibizumab biosimilars both launched with steep WAC discounts—Byooviz launched at a 42% discount and Cimerli at a discount of 30% compared with Lucentis.

In the adalimumab space, there is a wide range of stated WACs, in addition to some offering high and low WAC options. On the low end, Amjevita, Hyrimoz, Yuflyma, Cyltezo, Hulio, and Idacio all launched at a 5% discount; on the high end, Yusimry launched with an 86% discount.

Biosimilar launches have led to significant price decreases with ASP declining 41% on average in the 3 years after the first biosimilar launch. Oncology biosimilars have experienced the steepest ASP decline.

Market Share

Across molecules, market share gains can vary, and oncology biosimilars have seen the greatest uptake. According to Samsung Bioepis, the average biosimilar share of the market for the oncology treatment area and pegfilgrastim was 75% after 5 years compared with only 25% for biosimilars for other therapeutic areas over the same time.

• Bevacizumab has reached the greatest biosimilar market share at 85%, followed by trastuzumab at 83%.
• Insulin glargine biosimilars have been on the market nearly 3 years and have only reached 10% market share.
• Ranibizumab biosimilars have been on the market just 3 quarters and have only reached 8% market share.

References

1. Biosimilar Market Report: 2nd edition, Q3 2023. Samsung Bioepis. July 11, 2023. Accessed July 12, 2023. https://www.samsungbioepis.com/upload/attach/SB+Biosimilar+Market+Report+Q3+2023.pdf

2. Samsung Bioepis releases its second US biosimilar market report. News release. Samsung Bioepis. July 11, 2023. Accessed July 12, 2023. https://www.samsungbioepis.com/en/newsroom/newsroomView.do?idx=341&currentPage=1