WASHINGTON, DC (JUNE 3, 2020) — A new report from Matrix Global Advisors (MGA) details “lessons learned” from the European biosimilars experience that can improve access to these medicines for America’s patients.
MGA found that “there are important ways that the U.S. market should depart from Europe’s experience in order to better foster competition” and that European policies like price setting and tender systems “would prove detrimental to the long-term sustainability of the US biosimilars market.” However, MGA noted there are lessons from the European experience U.S. stakeholders should strive to follow as the market enters its second decade, including collaborative education campaigns and incentives for their use.
“Today’s report makes clear stakeholder alignment in encouraging the uptake of biosimilars through adoption incentives and widespread education efforts was key to early European market success,” says Christine Simmon, Executive Director, Biosimilars Council, and Senior Vice President of Policy and Strategic Alliances, AAM. “Across the spectrum, U.S. stakeholders must work together to ensure the viability of the marketplace through policies that promote biosimilar adoption and uptake.”
MGA highlighted an important step in encouraging a vibrant biosimilars marketplace: “Decision-makers across the [U.S.] healthcare system, including government programs, should push biosimilar uptake by setting utilization targets and creating incentives for uptake by sharing biosimilar savings with providers and patients.” The report also challenged the conventional wisdom that the European biosimilars market is flourishing while the U.S. market lags behind, noting that “it is time to move beyond this outdated perception.”
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Rachel Schwartz
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About the Biosimilars Council
The Biosimilars Council, a division of the Association for Accessible Medicines (AAM), works to ensure a positive environment for patient access to biosimilar medicines. The Biosimilars Council is a leading source for information about the safety and efficacy of more affordable alternatives to costly brand biologic medicines. Areas of focus include public and health expert education, strategic partnerships, government affairs, legal affairs and regulatory policy. More information is available on our about page.
About Matrix Global Advisors
Matrix Global Advisors, led by CEO and Founder Alex Brill and Principal Christy Robinson, is an economic policy consulting firm in Washington, DC, that specializes in fiscal, health care, and tax policy matters. Drawing on years of policy experience, the MGA team uses analytics to help identify, quantify, and solve economic policy problems. On behalf of clients, we conduct original data analysis, construct economic models, conduct research, write white papers and expert reports, and offer strategic advice.
