awareness and a willingness at the HCP to prescribe them . If these products are not prescribed routinely in clinical practice , then the goal to realize the potential of biosimilars will not happen . Thus , the financial burden that the US healthcare system currently faces will not change and patients will continue to suffer from high out of pocket expenses .
Your views on the price dynamics involving all biosimilars based on the fourth quarter 2023 average sales price ?
First , we need every stakeholder to get more involved in stimulating the biosimilar uptake and activating the biosimilar market so that patients can ultimately benefit from the lower cost of these medicines . Across all therapeutic categories , we know there is a correlation between biosimilar utilization and lower prices . This has to be done in a sustainable manner that results in the long- term viability of biosimilars . There are recent cases in some classes where this has not been the case . We are seeing various pricing strategies come to the market and the impact of some of these strategies . Monitoring these classes on quarterly basis will provide all of us with a better view .
“ The long-term viability and sustainability of biosimilars is not a guarantee and we need awareness and learnings across therapeutic areas .”
What are the main challenges facing companies entering the US biosimilars market ?
Right now , there are inconstancies across biosimilar classes . There are classes in the oncology markets that have done very well with biosimilars and there are other therapeutic areas where adoption is frankly too slow and too low . model of biosimilars .
Again , in order to improve utilization of biosimilars , there needs to be constant education of the healthcare
There are still healthcare providers and patients where biosimilars may be new to them and they just do not have a full understanding of what exactly a biosimilar is , what the experience to date is with these products , not just in the US , but globally and what they can do for those in the US healthcare market . If we can get the US healthcare market to have an awareness of biosimilars like they do with generic medicines for instance , then we will start seeing an increase in biosimilar demand .
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