Assessing the Value of Biosimilars: A Review of the Role of Budget Impact Analysis
Ira Jacobs (),
Leah Isakov and
Lesley G. Shane
Additional contact information
Steven Simoens: KU Leuven
Ira Jacobs: Pfizer Inc.
Robert Popovian: Pfizer Inc.
Leah Isakov: Pfizer Inc.
Lesley G. Shane: Pfizer Inc.
PharmacoEconomics, 2017, vol. 35, issue 10, No 6, 1047-1062
Abstract Biosimilar drugs are highly similar to an originator (reference) biologic, with no clinically meaningful differences in terms of safety or efficacy. As biosimilars offer the potential for lower acquisition costs versus the originator biologic, evaluating the economic implications of the introduction of biosimilars is of interest. Budget impact analysis (BIA) is a commonly used methodology. This review of published BIAs of biosimilar fusion proteins and/or monoclonal antibodies identified 12 unique publications (three full papers and nine congress posters). When evaluated alongside professional guidance on conducting BIA, the majority of BIAs identified were generally in line with international recommendations. However, a lack of peer-reviewed journal articles and considerable shortcomings in the publications were identified. Deficiencies included a limited range of cost parameters, a reliance on assumptions for parameters such as uptake and drug pricing, a lack of expert validation, and a limited range of sensitivity analyses that were based on arbitrary ranges. The rationale for the methods employed, limitations of the BIA approach, and instructions for local adaptation often were inadequately discussed. To understand fully the potential economic impact and value of biosimilars, the impact of biosimilar supply, manufacturer-provided supporting services, and price competition should be included in BIAs. Alternative approaches, such as cost minimization, which requires evidence demonstrating similarity to the originator biologic, and those that integrate a range of economic assessment methods, are needed to assess the value of biosimilars.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s40273-017-0529-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:pharme:v:35:y:2017:i:10:d:10.1007_s40273-017-0529-x
Ordering information: This journal article can be ordered from
Access Statistics for this article
PharmacoEconomics is currently edited by Timothy Wrightson and Christopher I. Carswell
More articles in PharmacoEconomics from Springer
Bibliographic data for series maintained by Sonal Shukla ().