Prospective evaluation of real-world biosimilar-related cost-savings and adoption indicates that biosimilar utilization in community oncology practices can result in significant cost-savings.
Real-world biosimilar-related cost-savings and biosimilar adoption were prospectively evaluated by transitioning to biosimilar monoclonal antibodies in a community-based oncology practice; the results of this study were presented at the 2021 American Society of Clinical Oncology Annual Meeting.
At an oncology practice, an initiative to switch patients to biosimilars of rituximab, trastuzumab, and bevacizumab reference products was implemented in July 2020. This effort involved monthly oncology pharmacy governance meetings that allowed provider participation and feedback, followed by defaulting the preferred biosimilar product in oncology chemotherapy software. Cost-savings achieved by switching to biosimilars was calculated by subtracting the actual spending on the biosimilar product from projected acquisition cost of the branded reference product. Biosimilar adoption, defined as the amount of biosimilar drug used over the total amount of the drug ordered, was also calculated.
During the study period (July 2020 to April 2021), switching to rituximab biosimilars resulted in net savings of $268,194.64; actual spending on the biosimilar was $726,476.10 compared with a projected spending of $994,670.74 on the reference product. Average rituximab biosimilar utilization between October 2020 and April 2020 was 92%.
Between July 2020 and April 2021, switching to bevacizumab biosimilars resulted in net savings of $285,251; actual spending on the biosimilar was $1,254,977.30 compared with projected spending of $1,540,229.19 on the reference product. Average bevacizumab biosimilar utilization between October 2020 and April 2020 was 100%.
Between July 2020 and April 2021, switching to trastuzumab biosimilars resulted in savings of $274,359.51; actual spending on the biosimilar was $1,218,641.60 compared with projected spending of $1,493,001.11 on the branded product. Average trastuzumab biosimilar utilization between October 2020 and April 2020 was 98%.
Based on these results, the authors concluded that biosimilar utilization in community oncology practices can result in significant cost-savings.
Source: Sanyal A, Schmitt M, Wellner D. Evaluation of real-world cost-savings and utilization of biosimilar drugs in a community-based oncology practice. J Clin Oncol. 2021;39(suppl_28):73.