Cardinal Health Predicts 2022 to be Turning Point for Biosimilars in the U.S.

Rhea-AI Summary

Cardinal Health released its 2022 Biosimilars Report, highlighting the current state and future prospects of biosimilars in the U.S. The report suggests that 2022 may be pivotal as biosimilars expand into new therapeutic areas. It presents survey data from over 320 healthcare providers, revealing a moderate readiness to discuss biosimilars among pharmacists, with only 40% feeling adequately prepared. The report includes anticipated market trends, payer coverage, and predictions for the biosimilars landscape through 2029.

Positive

• Cardinal Health's report indicates strong interest among healthcare providers in using biosimilars to improve patient access and affordability.
• The report projects an expansion of biosimilars into new therapeutic areas and sites of care in 2022.

Negative

• Only 40% of pharmacists feel prepared to discuss biosimilars, indicating a gap in knowledge.
• Only 20% are familiar with the FDA's interchangeability designation for biosimilars.

DUBLIN, Ohio, Feb. 7, 2022 /PRNewswire/ -- Today Cardinal Health published its 2022 Biosimilars Report: The U.S. Journey and Path Ahead, a publication that brings together the latest industry data on biosimilar utilization and payer coverage with survey data from healthcare providers, and views from leading physicians and experts on biosimilars. The report delivers robust data and insights on where biosimilar adoption stands today in the U.S. and what is expected in 2022 and beyond as biosimilars come to market in key disease categories such as diabetes and immunology.

"2022 is set to be a turning point in the U.S., as biosimilars expand into new therapeutic areas and sites of care, and reimbursement models continue to evolve," said Heidi Hunter, President of Cardinal Health Specialty Solutions. "Our new biosimilars report demonstrates that, while market challenges remain, most healthcare providers have a strong interest in using biosimilars to broaden patient access and drive more affordable care for their patients."

The report features data from biosimilar surveys with more than 320 oncologists, 100 rheumatologists, 100 retina specialists, 50 endocrinologists and primary care physicians treating diabetes, and 115 retail pharmacists, conducted in 2020 and 2021.

Among the featured research are results from a new insulin biosimilar survey with retail pharmacists showing that only about 40% feel very prepared to discuss biosimilars with patients. In addition, only 20% say they are very familiar with the FDA's interchangeability designation, which enables them to substitute insulin biosimilars in place of reference biologics, indicating a significant need for further education among pharmacists.

The 2022 Biosimilar Report also includes:

• U.S. biosimilar adoption and market share data
• A synopsis of key biosimilar milestones in 2021
• Payer coverage trends of biosimilars by therapeutic area
• The pipeline of biosimilars expected to launch in the U.S., 2022-2029
• Five biosimilar predictions for 2022

The 2022 Biosimilar Report: The U.S. Journey and Path Forward can be accessed at www.cardinalhealth.com/biosimilarsreport.

About Cardinal Health 
Cardinal Health (NYSE: CAH) is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for health care facilities. With 50 years in business, operations in more than 30 countries and approximately 44,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.

Contacts
Media: to request a copy of the report, please contact Marcia Frederick, marcia.frederick@cardinalhealth.com and (614) 757-9968.

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SOURCE Cardinal Health

FAQ

What does the 2022 Biosimilars Report by Cardinal Health indicate?

The report indicates that 2022 may be a turning point for biosimilars in the U.S., with expected expansions into new therapeutic areas.

How many healthcare providers participated in the biosimilar surveys for the report?

More than 320 healthcare providers participated in the surveys conducted for the report.

What are the key findings regarding pharmacists' knowledge on biosimilars?

The report reveals that only 40% of pharmacists feel very prepared to discuss biosimilars, and just 20% are very familiar with the FDA's interchangeability designation.

What can be expected regarding biosimilar market trends in 2022?

The report details anticipated payer coverage trends and provides predictions for the biosimilar market through 2029.

How can I access the Cardinal Health 2022 Biosimilars Report?

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