OBJECTIVES: The US Food and Drug Administration (FDA) approved the first biosimilar in 2015. Presently, 45 biosimilars are present in the US biotherapeutic landscape, with a compounded annual growth rate of 97% from 2015 to 2021.

METHODS: A retrospective analysis is carried out, considering 42 biosimilars and their corresponding reference drugs, spanning across 2015 (first biosimilar launch) until 2023, using claims data from Optum® de-identified Market Clarity database. Standard costs from pharmacy claims data were analyzed for biosimilar and reference drugs across time and line of business.

RESULTS: It is observed that the total standard costs of biosimilars have increased steadily from 2017 onwards, with a five-fold rise in the number of patients using biosimilars. At the same time, patients using reference drugs have dropped by around 18% from 2015 to 2022. With the incessant growth of the biosimilar ecosystem in the US, it is expected that there will be a substantial decrease in the standard cost of biologics (reference and biosimilar drugs) soon.

CONCLUSIONS: Biosimilars improve patient access by effectively expanding the biotherapeutic market. With prominently lower list prices, the introduction of biosimilars creates an array of opportunities for different treatment options thereby improving patient’s quality of life.