Program
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In-person registration included the full virtual experience, and virtual-only attendees will be able to tune into live in-person sessions and/or
watch captured in-person sessions on-demand in addition to having a variety of virtual-only sessions to attend.
Canada's Evolving Market for Biosimilars and What It Means for Payers
Speaker(s)
Zhang Y, Wladyka B
PMPRB, Ottawa, ON, Canada
OBJECTIVES: Potential savings from biosimilars are a subject of keen interest internationally, with a particular relevance for Canadians. Canada is a relatively high-use and high-price market for biologics and the increased use of biosimilars offers a significant opportunity for cost savings for Canadian payers. Recent policy changes to promote biosimilar switching are expected to result in significant cost reductions for these classes of biologics in Canada, helping to offset the pressure from new higher-cost medicines in coming years. As these initiatives are implemented at the provincial level, Canada offers a unique model to observe the impacts of variations in approach and timing across jurisdictions. The analysis aims to identify potential opportunities in the Canadian biosimilars market in comparison with international practices.
METHODS: Using data from various sources, including the IQVIA MIDAS® Database, Canadian Drugstore and Hospital Purchases Audit, FDA, EMA, and Health Canada, this presentation compares the emerging Canadian market for biosimilars with our international counterparts. The analysis delves into the market dynamics of biosimilars in Canada in 2020 and 2021, with retrospective trends since 2011, to assess the impact of the recent biosimilar switching initiatives and the potential for cost savings.
RESULTS: Sales of biologics in Canada reached nearly $10B in 2020, one third of pharmaceutical spending. Despite biosimilar approvals for 14 drugs, sizable price discounts, and increased uptake, the market in Canada continues to lag behind international comparators. Ongoing biosimilar switching policies from Canadian payers, especially public drug plans, have prompted wider uptake of biosimilar use in their jurisdictions and played an increasing role in offering significant savings, though impacts are varied across the country.
CONCLUSIONS: This presentation will provide much needed information on the efforts taken to promote biosimilar use and draw on unrealized savings in Canada, and will illuminate discussions on collaboration in Canada’s healthcare sector.
Code
EE505
Topic
Economic Evaluation, Health Policy & Regulatory
Topic Subcategory
Cost-comparison, Effectiveness, Utility, Benefit Analysis, Public Spending & National Health Expenditures, Reimbursement & Access Policy
Disease
No Additional Disease & Conditions/Specialized Treatment Areas