When first introduced 4 years ago, pharmacy directors were not convinced they would reap benefits from biosimilars. That lack of confidence has completely dissipated. The vast majority of hospital pharmacies have adopted the currently available biosimilar products, and most plan to add additional biosimilars to their formulary as they enter the market. While cost savings drives biosimilar adoptions, there is growing interest in interchangeability as this designation eases the switching process for pharmacy.
Despite this year’s slight dip, biosimilar adoption remains widespread across facilities of all sizes.
The commitment to biosimilar adoption is quite strong. Just 4 years ago, only 45% of pharmacy directors were interested in adding biosimilars to formulary as they became available; this year 82% are open to this option.
The financial upside drives most biosimilar formulary decisions. In addition to product price and reimbursement levels, most pharmacy directors are reviewing evidence-based clinical data and interchangeability status as part of their formulary review.