Presentation (CTI)

OBJECTIVES: Potential savings from biosimilars are a topic of international interest and are particularly relevant for Canada. Given its high-use and high-price market for biologics, the increased use of biosimilars offers a significant opportunity for cost savings for Canadian payers. Ongoing policy changes to promote biosimilar switching are expected to accelerate cost reductions, helping to offset the pressure from the introduction of newer, higher-cost medicines in coming years. Implemented at the provincial level and by payer, these initiatives make Canada a unique model to observe the impacts of variations in approach and timing across jurisdictions. This analysis aims to identify opportunities in the Canadian biosimilar market in comparison with international practices.
METHODS: Using data from various sources, including the IQVIA MIDAS® Database, Canadian Drugstore and Hospital Purchases Audit, US Food and Drug Administration, Europe Medicines Agency, and Health Canada, this presentation compares the evolving Canadian market for biosimilars with international counterparts. The analysis delves into the market dynamics of biosimilars in Canada in 2023, with retrospective trends since 2014, to assess the impact of biosimilar switching initiatives and the potential for cost savings.
RESULTS: Biologics sales in Canada exceeded CAD$15 billion in 2023, accounting for over one-third of pharmaceutical spending. By the end of 2023, Health Canada had approved biosimilars for 14 distinct biologic medicines, behind Europe (18) but ahead of the United States (12). Moreover, Canada achieved biosimilar uptake levels above the OECD median for most high-selling biologics, except infliximab, realizing over 50% in savings from the use of these biosimilars. With biosimilar uptake continuing to accelerate, further cost savings are anticipated, driven by ongoing and expanded switching initiatives.
CONCLUSIONS: This presentation will provide valuable insights into Canada’s efforts to promote biosimilar use and unlock unrealized savings, contributing to a better understanding of cost-saving initiatives and healthcare system sustainability in Canada and beyond.