Presentation (CTI)

OBJECTIVES: Biosimilars provide similar efficacy and safety as reference products at a more cost-effective price, which can provide considerable savings to payers depending on utilization rates. The objective of this study was to assess the current and expected savings from biosimilar use in North America.
METHODS: A literature search was conducted using MEDLINE and grey literature from January 2020 to January 2025. Keywords included “projection*”, “economic”, “ex ante analysis”, “budget impact model”, and “biosimilar*”. Peer-reviewed publications and economic reports from industry, accredited associations, and state/provinces were included.
RESULTS: Twenty-seven peer-reviewed publications and four reports were deemed relevant to the search question. Analyses were conducted for the US (n=18) and Canada (n=9). An economic benefit was reported or forecasted by 93% (n=29) of studies. Across Medicare and commercial plans in the US, biosimilar use has been estimated to provide $12.4 billion in savings in 2023 alone. Moreover, a projection report estimated that the use of biosimilars between 2022 to 2027 could yield savings of $125 to $237 billion for the US healthcare system. A more focused analysis on six biosimilars for the treatment of psoriasis reported $63 million in cost avoidance for the national Veteran Health Administration. Non-medical switching policies have been implemented in Canada to drive biosimilar uptake. The pilot adopter (British Columbia) reported $731 million in savings between 2019-2024. Analyses indicate even one biosimilar can result in meaningful savings, with ranibizumab biosimilar estimated to save $140 million nationally.
CONCLUSIONS: A growing body of literature validates the substantial economic benefits associated with the introduction or increased use of biosimilars for the US and Canada. Health economic decision makers should consider policies that favor biosimilars use as a tool to control costs.