Replies to post #208594 on Biotech Values

[Biowatch]

Agreed, approval is slow, but many patents will expire fairly soon.
The incentive is high.

Biosimilars Could Lower Cancer Drug Costs
Laurie Toich, Assistant Editor
Publish Date: Friday, January 27, 2017

http://www.specialtypharmacytimes.com/news/biosimilars-could-lower-cancer-drug-costs

Biosimilars have the opportunity to provide affordable, effective drug therapy for patients with many different diseases, including cancer. The European Society of Medical Oncology (ESMO) recently published a position paper in ESMO Open that discusses how biosimilars have the unique possibility of creating sustainable cancer care.

“Biosimilars are an excellent opportunity to have good, valid drug options that improve the sustainability and affordability of cancer treatment in various countries,” said Josep Tabernero, MD, PhD, chair of the ESMO Cancer Medicines Working Group. “To do that we have to be sure that biosimilars follow appropriate manufacturing procedures, are clinically tested, and adhere to regulations from the European Medicines Agency (EMA).”

...In Europe, biosimilars are expected to reduce costs up to 40% compared with the reference product, while they are expected to be reduced up to 30% in the United States. Although most insurance companies pay for a large sum of oncology drug costs, patients may face financial barriers that prevent them from obtaining the necessary care under the current system. With discounted biosimilars, this may not be an issue.

Since a large portion of biologic drugs are expected to come off patent by 2020, biosimilars may have a chance to significantly improve oncology care...

..While the uptake in biosimilars has been relatively slow, more are receiving regulatory approval. In the United States, 4 biosimilars have been approved, with numerous candidates still undergoing clinical testing. Allowing patients to access alternative cancer drugs will increase competition, and hopefully, lower costs as a result...