Incentives Drive Provider, Patient Biosimilar Adoption
Cost savings is part of the promise of biosimilar medications. But in order to deliver on that promise, providers must prescribe them, and payers must cover them. Since their introduction, manufacturers have implemented a variety of unique pricing incentives and strategies to incentivize biosimilar adoption. “Most recently, we have seen manufacturers take a non-branded and branded approach to the launch of their biosimilars, which offers a low wholesale acquisition cost [WAC] and a high [WAC],” explained Lakesha Farmer, Senior Director, Strategic Accounts, ION Oncology Practice Network at Cencora. This new pricing strategy is being used across therapeutic areas, from insulin biosimilars to the many biosimilars to adalimumab (Humira) that have launched since the start of 2023.