Biosimilars and their social repercussions
The key role of accessibility
The purpose of the second part of this blog is to investigate the social repercussions of biosimilars. This and upcoming posts will assess the social impact of biosimilars in terms of their contribution to greater accessibility to treatment.
Biosimilars marketed under respective national health systems are 15% to 30% cheaper than their corresponding reference products, and prices are expected to fall exponentially as the number of competitors increases. These low prices ensure greater patient accessibility.
According to the IMS Institute’s White Paper entitled “Delivering on the Potential of Biosimilar Medicines: The Role of Functioning Competitive Markets”, the launch of biosimilars in the European Union has led to a 44% increase in patient access to treatment in the five biggest EU markets (France, Germany, Italy, Spain and the United Kingdom).
mAbxience’s mission is to alleviate the strain that national health systems are under through the provision of biosimilars. The objective is to offer an alternative that allows health systems to become more sustainable without compromising the quality, efficacy or safety of the medicinal product.
The Spanish Treasury estimated hospital drug expenditure to have risen by 11.6% in January 2016 in Spain alone. In this context, the launch of biosimilars onto the market offers significant benefits to public administrations, patients and healthcare professionals alike.
The time has come to iron out inequalities in treatment access in favour of fairer and more impartial national health systems.