In an interview by Xtalks, company leaders at Samsung Bioepis, Ilsun Hong and Thomas Newcomer, discuss the company's advancements in the biosimilar industry. They discuss the FDA approval for both high- and low-concentration formulations of their adalimumab biosimilar and the interchangeability designation for their ranibizumab biosimilar. Hong and Newcomer discuss the impact on treatment accessibility, future biosimilar developments and more.
TORONTO, Nov. 29, 2023 /PRNewswire-PRWeb/ -- In an exclusive interview, Xtalks delves into the advancements and innovations happening at Samsung Bioepis, a leader in the biosimilar industry. Featuring Ilsun Hong, VP and Product Evaluation Team Leader, and Thomas Newcomer, VP and Head of US Market Access at Samsung Bioepis, the discussion revolves around key developments, challenges and future trends in biosimilars.
The interview goes into Samsung Bioepis' achievement of being the first company to receive FDA approval for both high-concentration and low-concentration formulations of adalimumab biosimilar. Ilsun Hong emphasized the challenges and the strategic agility required in developing these formulations, catering to the evolving market demands without compromising on quality.
Another remarkable feat highlighted in the interview is the interchangeability designation for Samsung Bioepis' ranibizumab biosimilar in ophthalmology. This designation, as Ilsun Hong explains, signifies a major milestone, underscoring the company's commitment to patient-centric care.
Thomas Newcomer shed light on the broader impact of biosimilars, citing the role they play in enhancing treatment options and reducing healthcare costs. He pointed out that Samsung Bioepis has launched four biosimilar products in the US, contributing significantly to the healthcare system's affordability and patient access to treatments.
The interview also touches on the challenges of introducing new biosimilars into the market, from regulatory hurdles to healthcare provider education. Newcomer emphasized the need for continued education and awareness to improve biosimilar utilization and achieve substantial savings in healthcare spending.
In closing, Ilsun Hong and Thomas Newcomer remarked on the future trends in the biosimilar industry, noting the increasing competition and the importance of product quality, clinical experience and real-world data.
Looking ahead, the company remains committed to leading the biosimilar market, providing high-quality, cost-effective alternatives to biologic treatments.
To read the full interview, visit Innovations in Biosimilars: Insights and Trends from Samsung Bioepis.
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