Cardinal Health annual research report examines milestone year in biosimilars

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

02/29/2024 - 06:00 AM

Study reveals impact of dramatic increase in commercially available biosimilars and progress in the areas of patient accessibility and treatment affordability

DUBLIN, Ohio, Feb. 29, 2024 /PRNewswire/ -- Today, Cardinal Health (NYSE: CAH) released its 2024 Biosimilars Report: insights on a pivotal year of evolution and expansion, an analysis of key recent economic, competitive, legislative and societal developments in biosimilars. The publication highlights legislative developments and new treatments, including adalimumab biosimilars. The report also provides the perspectives of retina specialists on biosimilars, ahead of the expected launch of multiple new biosimilars for retinal diseases.

"It is more important than ever that all stakeholders of the healthcare ecosystem understand the significant benefits biosimilars offer to patients, providers, practices and payers alike," said Fran Gregory, PharmD, MBA, VP, Cardinal Health Emerging Therapies. "The savings generated by biosimilars will play an increasingly important part in creating a balance between funding innovative new treatments and reducing the overall financial burden on the healthcare system. This report offers critical context on this rapidly changing clinical and market landscape, and the role biosimilars will play in increasing the accessibility and affordability of care."

The report examines a year of major developments in biosimilars, offering expert commentary and provider perspectives on a rapidly changing industry landscape. Featuring new research derived from surveys and expert interviews, the report offers new insights into market growth, drivers of biosimilar adoption and remaining barriers to widespread uptake.

With 2024 expected to be a critical year for retina biosimilars, Cardinal Health surveyed providers in ophthalmology to obtain perspectives that may influence adoption while highlighting continued obstacles to wider use of biosimilars. Nearly 80% of survey participants said they are "extremely" or "very" familiar with biosimilars, though fewer than 60% have prescribed a biosimilar for the treatment of a retinal disorder. 82% of retina specialists said they would be "very" or "somewhat" more likely to prescribe biosimilars if they became a payer's preferred drug. Notably, the research also suggests widespread belief in biosimilars' potential impact on healthcare system sustainability, with 75% of participants agreeing that biosimilars can improve healthcare system sustainability.

In addition to this new research, the report also includes in-depth analysis of:

The evolving payer landscape
Emerging best practices for managing biosimilar inventory
How biosimilars are promoting access and healthcare system sustainability
The biosimilars product pipeline

The report can be accessed at www.cardinalhealth.com/biosimilarsreport

About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With more than 50 years in business, operations in more than 30 countries and approximately 48,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.

Media contact: Tori Simmons, Victoria.Simmons@cardinalhealth.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/cardinal-health-annual-research-report-examines-milestone-year-in-biosimilars-302075391.html