Manufacturers need to soberly evaluate the magnitude of their value proposition to manage the biosimilar opportunity and threat.
New York City, NY (PRWEB) March 07, 2013
CBPartners, one of the world’s leading authorities on the development of pricing and market access strategy within the biosimilars space, led a full day biosimilars conference on February 27, 2013 in Los Angeles. The conference, organised by IBC, was chaired by Mr. Cyrus A. Chowdhury, Chief Executive Officer of CBPartners.
The day began with keynote speakers from the US Food and Drug Administration (FDA), Celltrion, and Boehringer Ingelheim. Dr. Jeffrey C. Baker, Deputy Director in the Office of Biotechnology Products at the FDA’s CDER provided an update on emerging issues related to the regulation of bioproducts. The opening address for the biosimilar session was delivered by Mr. Chowdhury, who presented an hour-long session on strategies and tactics for commercial differentiation of biosimilars and originator biologic brands. These issues are of particular importance due to the limited opportunities that biosimilar manufacturers have to differentiate their products from originators without calling clinical effectiveness and safety into question.
“The entire premise of the biosimilar opportunity and value proposition to global healthcare authorities hinges upon providing similar healthcare outcomes to the originator product’s outcomes, while still providing an opportunity to reduce overall expenditure on biopharmaceuticals. Most biosimilar manufacturers are now learning that discounted pricing is only part of the value proposition – and may not always be sufficient to entice global healthcare decision-makers to switch procurement to biosimilar options,” explains Mr. Chowdhury.
“Value can come in many forms,” continued Mr. Chowdhury. “In particular, experience with the original manufacturer, physician experience and comfort, device familiarity, disease management, and other value-add programmes are quite often the reason that many healthcare authorities have yet to make an aggressive switch to exclusively sourcing biosimilar options. Manufacturers need to soberly evaluate the magnitude of these value components to ensure an effective approach to managing the biosimilar phenomenon.”