New Cardinal Health report examines shifts in biosimilars industry

Rhea-AI Summary

Cardinal Health (NYSE: CAH) published its 2023 Biosimilars Report on February 22, 2023, which examines provider perceptions and trends in the biosimilars market. The report shows a significant increase in familiarity with biosimilars, particularly among rheumatologists (76%) and gastroenterologists (81%). It highlights the potential for up to 10 new Humira™ biosimilars launching in 2023, and discusses the impact of the Inflation Reduction Act and the Enhancing Oncology Model on market growth. The report aims to address challenges and opportunities in the adoption of biosimilars, ensuring equitable access to essential treatments.

Positive

• 76% of rheumatologists are now very familiar with biosimilars, a 43% increase year-over-year.
• The report discusses up to 10 new Humira™ biosimilars launching in 2023, which could enhance market competition.
• In-depth analysis of market growth drivers and key milestones achieved in 2022.

Negative

• None.

Study reveals provider perceptions of commercially available biosimilars and anticipated launches, which have the potential to increase equitable access to critical treatments  

DUBLIN, Ohio, Feb. 22, 2023 /PRNewswire/ -- Today, Cardinal Health (NYSE: CAH) released its 2023 Biosimilars Report: Tracking market expansion and sustainability amidst a shifting industry, a publication that highlights provider perceptions, utilization and the latest market trends of biosimilars. The report assesses new and changing perspectives regarding some of the most disruptive biosimilars launched in the areas of immunology and ophthalmology, noting a growing familiarity of the medications among rheumatologists with 76% reporting being very familiar with the products, a 43% jump year-over-year. The research also reports high familiarity among gastroenterologists (81%) compared to ophthalmologists (33%) and dermatologists (31%).

"Biosimilars bring competition and lower costs to patient-critical treatments," said Bruce Feinberg, chief medical officer and vice president of Cardinal Health. "In order to deliver on the promise of these drugs from a health equity standpoint, we must continue to analyze prescriber awareness and familiarity. Through our research, Cardinal Health seeks to understand prescribers' perceptions and what other factors are moving the industry forward—from business and financial decisions to provider adoption."

Cardinal Health surveyed more than 350 providers across rheumatology, gastroenterology, dermatology and ophthalmology. The responses offer new analysis, insights into market growth, drivers of adoption, and obstacles that remain in the market. The new report also includes an updated analysis of biosimilar market adoption and key milestones achieved throughout 2022, and highlights how policy and updated formulary announcements may impact patient access of these critical therapeutics.

In addition to general provider perceptions, this report provides in-depth analysis of how up to 10 Humira™ (adalimumab) biosimilars launching in 2023 may affect the market with provider input on the most important product attributes for each therapeutic area (e.g. latex and citrate-free solutions).

The 2023 Biosimilars Report also contains:

• A lookback at five key milestones achieved in 2022, including how the Enhancing Oncology Model might continue the growth and adoption of biosimilars in the oncology market
• A detailed examination of how the Inflation Reduction Act could affect the biosimilars market
• Commentary from industry stakeholders on the single most critical action needed to ensure a sustainable U.S. biosimilars market
• An updated pipeline of biosimilars expected to come to market in the next three years

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 46,500 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com

Media Contact:
Tara Parsell
Tara.parsell@cardinalhealth.com

 

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SOURCE Cardinal Health

FAQ

What does the 2023 Biosimilars Report by Cardinal Health cover?

The report examines provider perceptions, market trends, and upcoming biosimilars, particularly focusing on the impact of Humira™ biosimilars and legislative changes.

What significant findings were highlighted in the 2023 Biosimilars Report?

A notable increase in familiarity with biosimilars, especially among rheumatologists, reaching 76%, along with trends affecting market growth.

How many providers were surveyed in Cardinal Health's Biosimilars Report?

More than 350 providers across various specialties, including rheumatology and gastroenterology, were surveyed.

What impact might the Inflation Reduction Act have on the biosimilars market according to the report?

The report includes a detailed examination of how the Inflation Reduction Act could influence biosimilar adoption and market dynamics.

When will the new Humira™ biosimilars launch according to the report?

The report anticipates the launch of up to 10 Humira™ biosimilars in 2023.