Page 16 - SFHN October 2021 Issue

Oncology... Oncology... Oncology...

Biosimilars Expand Access to

Treatments Floridians Need

Biologics are a type of effective interventions to
medicine derived from liv- help mitigate cost of care in
ing systems, like bacteria the U.S. Today, generics
and yeast. These powerful account for 90% of prescrip-
medications are manufac- tions in the country, at only
tured through highly 20% of the cost.
involved biotechnology Much like generic medica-
processes, producing med- tions, biosimilars can boost
ications that treat such dis- needed competition in the
eases as rheumatoid arthri- marketplace, thereby driving
tis, ulcerative colitis, and down costs and increasing
Crohn's disease, among access to critical treatment
many others. The number BY JORGE GARCIA, options.
of biologic therapies con- PHARMD, MS, MHA, Health care professionals
tinues to increase, and so MBA, FACHE who work in oncology often
does the number of patients experience the financial tox-
using them. icity that cancer patients can
The cost of biologics has reached an all- face. The biosimilar value proposition is
time high. The cost of oncology drugs that they can deliver the same high-quality
specifically is growing at twice the rate of products at a fraction of the cost.
the general health care cost. The median While biosimilars can be developed at
monthly cost of new U.S. cancer drugs lower cost and expedited fashion com-
surpassed the median monthly household pared to their counterpart products,
income in 2000. By 2014, this cost more biosimilars are deemed by the FDA as safe
than doubled the median monthly house- and effective treatment options. In addi-
hold income. tion, with more than 6 years of post-mar-
There are various solutions to solving keting pharmacovigilance, each day in the
this high-cost problem for Floridians, and marketplace biosimilars provide addition-
one of them carries a similar name but al confidence regarding their safety and
very different pricing. They are called efficacy profiles. No biosimilar product
biosimilars, and they represent an innova- has ever been removed from the market-
tive opportunity to increase access and place in the U.S. due to a safety or efficacy
expand use of these critical treatments for concern.
Florida’s patients while reducing cost. Biosimilars face many challenges and
I’m a pharmacist in South Florida, and I barriers to marketplace entry. To name just
lead national advocacy efforts to promote a few examples, there is a great deal of
the evaluation and the safe and effective room for patent litigation prolonging
use of biosimilars. Biosimilars can gener- biosimilar launch and there is no guaran-
ate cost savings by providing more afford- teed payer coverage or market share for
able options and creating competition that manufacturing companies.
prevents increasing costs. This could be Health care professionals are uniquely
- J asmmine particularly important when it comes to positioned to promote the evaluation of
oncology. the growing body of evidence and enable

easst cancer surviv or
br

We are currently seeing real growth in biosimilar utilization where there is evi-
the market share of biosimilars. If they dence to support the use.
can
I bea
I bea can er see nearly $1 billion in savings each year, Services at Baptist Health South Florida. He
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reach a 75% share, Florida can expect to
Dr. Jorge Garcia is the Assistant Vice
President of System Oncology Pharmacy
according to the Pacific Research Institute.
The health care system has already seen
the far-reaching benefits of competition in
also serves as the Pharmacy Liaison and
the pharmaceutical marketplace through Board Member for the Florida Society for

with RO ARD HHEAL TH generic drugs, small molecule drugs syn- Garcia’s presentation on Biosimilars: What’s
Clinical Oncology. To learn more, view Dr.

BR W
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thesized in the lab to provide a lower cost
alternative to the brand products. New and What’s Next? at
Utilization of generic drugs have proven https://youtu.be/h5kfjp7KNqs
to be one of the most meaningful and
wear
A tBr o w ar dH ealth, w e dedica t ed
t o the figh t against ccanc er .

L earn about our com ehensiv e oncology serrvices:
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Br o w ar dH ealth.o g/Bea t Canc er
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16 October 2021 southfloridahospitalnews.com South Florida Hospital News