Biological products are rapidly increasing in popularity and represent the fastest-growing class of medications in the United States.1 Also known as biologics, the medication’s market size in the US is expected to be valued at over $275 billion by 2030.2 Similar to biologics, biosimilars—which are nearly identical to an original biologic medicine—are quickly gaining traction with no signs of slowing down.
The FDA gave its nod to filgrastim-sndz (Zarxio) in 2015, marking the first time a biosimilar was approved in the US. Since then, the federal agency has gone on to approve a further 45 biosimilars, with each year since that initial date—with the exception of 2020—seeing more approvals than the previous year.3 The country’s biosimilar market is now estimated to reach a total value of $35.1 billion by 2030 as exclusivity ends for more reference products.4
Key Takeaways
- The FDA approved filgrastim-sndz (Zarxio) in 2015, marking the first time a biosimilar was approved in the US. With the exception of 2020, each year since 2015 has seen a rise in biosimilar approvals compared to the year before.
- Despite their increasing availability, biosimilar adoption remains slow. Addressing pharmacist concerns about biosimilars—chief among them being interchangeability—will do much to further their adoption by prescribers and patients.
- It is of critical importance that pharmacists stay updated on the current biosimilar landscape and familiarize themselves with any new products on the horizon to promote biosimilar adoption.
However, despite the significant growth of biosimilars, their adoption across various therapeutic areas has remained slow. Barriers to biosimilar adoption are varied, but the most common ones cited by providers include concerns over safety and efficacy, uncertainties about interchangeability, coverage restrictions that could delay reimbursement, and skepticism over current pricing and expected cost savings.5
As trusted medication experts, pharmacists are key to fostering the adoption of biosimilars and increasing awareness for both providers and patients. But pharmacists themselves are not yet completely comfortable with biosimilars, and gaps in education around the medications are one of the biggest reasons why. A 2022 survey of pharmacists’ knowledge of biosimilars found there was a general lack of understanding and comfortability with key concepts, in particular the topic of interchangeability.6
“Pharmacists, in my opinion, are really the frontline staff,” said Chelsee Jensen, PharmD, BCPS, a senior pharmacy specialist at Mayo Clinic, in Rochester, Minnesota. “We need to make sure that our frontline pharmacy staff has a good understanding of what biosimilars are and their approval pathway so that they are confident when they’re talking to our patients who might be hesitant about a new drug. We want to make sure we can instill as much knowledge and competence in those pharmacists [as we can] so that they can instill that same confidence through their counseling to those patients.”
Biosimilars offer numerous benefits to patients, such as wider availability of treatment options, increased access to biological products, and the potential for lower health care costs. Biosimilars are approximately 30% cheaper on average than their reference products, which resulted in nearly $8 billion of savings for the US health care system in 2020.7 With over 1000 biosimilars in preclinical and clinical development as of 2023,6 strengthening pharmacists’ foundational knowledge about the medications is crucial.
READ MORE: Assessing Pharmacist Attitudes on Biosimilar Dispensing Before, After COVID-19 Pandemic