Research Monographs

Improving Healthcare System Performance by Promising Technologies Development and Competition: Focusing on Biosimilars

Improving Healthcare System Performance by Promising Technologies Development and Competition: Focusing on Biosimilars

  • Author

    Park, Sylvia

  • Publication Date

    0000

  • Pages

  • Series No.

  • Language

Biosimilar refers to a highly similar version of an off-patent originator biological product. Biosimilar medicines have the potential to increase access to biological medicine and provide savings to healthcare system. This study looked at the market competition related to biosimilars and provided an overview of biosimilar regulations and policies in Korea and other countries. Governments and payers put in place specific supply-side and demand-side policies for promoting access to biosimilars, while substantial variation exists in the price reduction and uptake of biosimilars between different therapeutic classes and countries. The Korean pharmaceutical industry has fostered highly advanced technologies to manufacture biosimilars. However, such an industrial achievement has not sufficiently translated into social benefits in healthcare system. We propose a systemwide approach to increasing value for money from the use of biosimilars and making the market attractive for biosimilar manufacturers. The suggestions we present in this study are for: (1) facilitating demand for lower-cost medicines, which may lead to price competition and improved access to biological medicines, (2) supporting and promoting generation of comprehensive outcome data on the effectiveness and safety of biosimilars to ensure interchangeability between biosimilar and originator product, (3) government/payer/provider collaboration to get healthcare system sustainable in this new era of biosimilars 

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