Celltrion Healthcare: Biosimilars Have the Potential to Deliver Dramatic Cost Savings for US and European Healthcare Systems
Celltrion Healthcare outlined their vision of ‘shaping future healthcare by improving access to biosimilars’ at the 5th Annual Biosimilars USA Conference in New Jersey, US.
Biosimilars offer healthcare providers and patients greater treatment choice and value, better access to treatments and improved patient outcomes. According to data provided by IMS Health, biosimilars could lead to cumulative savings of up to 107 billion USD by 2020 in the United States (US) and the top five European Union (EU) countries.1 The EU has made significant progress in unlocking the potential of biosimilars through continuous education of providers, payers and patients. This has been critical to EU biosimilar acceptance but has not been seen in the US, which has lagged behind.
During a presentation on the opportunities and challenges presented by the use of biosimilars in the US, Celltrion Healthcare highlighted several challenges affecting the uptake of biosimilars within the US market. Both physicians and patients in the US lack confidence in biosimilars due to a low level of education and awareness. According to a survey, 67% of patients said they were “unaware” of biosimilars and 70% selected “no” as a response to the statement “is a biosimilar is safe?”2,3 Compounding this lack of understanding are anti-biosimilar campaigns running in the US which are increasing the negative public perception of biosimilars. In addition, legal battles like patent litigation have restricted uptake of biosimilars and have hindered progress in the US.
The lower cost of biosimilars means that more patients can receive effective treatments without increasing healthcare budgets. Furthermore, treatment at a lower cost generates savings that can be put towards funding innovative treatments or combination treatments, ultimately benefitting more patients and on a longer-term basis.
“A key factor in overcoming barriers to US market entry is sharing the positive experiences of both healthcare professionals and patients. In particular, it is important to highlight best practice and work together to ensure as many patients as possible in the US have access to treatment through the use of high quality, more cost-effective biosimilars,” said Mr HoUng Kim, Head of Strategy and Operations Division, Celltrion Healthcare. “As innovators within the biosimilar field, we are looking forward to launching subcutaneous infliximab next year. We expect that this will generate further cost savings in addition to improved convenience as dual formulations would provide personalised therapeutic approaches to optimise patient outcomes.”
At the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) 2018 which took place last week in Barcelona, Spain, Celltrion Healthcare presented new financial forecast data, which showed European health services could save hundreds of millions of euros through the use of biosimilars. For example, predicted budgetary savings in the 28 countries of the European Union with trastuzumab biosimilar, range from €872 million to €2,635 million, which would allow up to an additional 134,000 patients to gain access to trastuzumab over a five-year period.4
Speaking at ISPOR, Professor Gulácsi, Head of Department of Health Economics, Corvinus University of Budapest, Hungary, discussed the long term benefits and cost-effectiveness of TNFi treatment, including biosimilar infliximab, in methotrexate-naïve patients with rheumatoid arthritis (RA), “Our systematic review and meta-analysis has demonstrated the long-term benefits of TNFi treatment versus other treatment strategies in methotrexate-naïve patients with RA. Results from our probabilistic Markov model demonstrated that biosimilar infliximab in early RA is cost effective in Denmark, Finland, Sweden, Norway, France, Germany, Italy, Spain, the United Kingdom and Hungary. Infliximab biosimilar intravenous is the most cost effective option at this time, and I believe that this advantage will be further strengthened by the introduction of subcutaneous formulation."
“Budget impact modelling is an important tool when assessing the financial impact of biosimilars,” said Aidan Byrne, Consultant, Health Economics and Outcome Research / Real-World Insights, IQVIA, United Kingdom. “Due to the significant cost-saving we have seen to date, the role that biosimilars play in improving the sustainability of healthcare systems is clear.”
Notes to editors:
About rheumatoid arthritis
In Europe, more than 2.9 million people have rheumatoid arthritis (RA), many of whom are of working age. On average, every third person with RA becomes work disabled and up to 40 per cent leave work completely within 5 years of diagnosis.5 Although there is no cure for RA, there are many treatments that can reduce inflammation and ease pain. As with all rheumatic diseases early diagnosis and intervention is key.
About CT-P13 (biosimilar infliximab)
CT-P13 is developed and manufactured by Celltrion, Inc. and was the world’s first monoclonal antibody biosimilar approved by the European Commission (EC). It is indicated for the treatment of eight autoimmune diseases including rheumatoid arthritis and IBD. It was approved by the EC under the trade name Remsima® in September 2013 and launched in major EU countries in early 2015. The US FDA approved CT-P13 in April 2016 under the trade name Inflectra®. CT-P13 is approved in more than 88 countries (as of August 2018) including the US, Canada, Japan and throughout Europe.
About Celltrion Healthcare
Celltrion Healthcare is committed to delivering innovative and affordable medications to promote patients’ access to advanced therapies. Its products are manufactured at state-of-the-art mammalian cell culture facilities, designed and built to comply with the US FDA cGMP and the EU GMP guidelines. Celltrion Healthcare endeavors to offer high-quality cost-effective solutions through an extensive global network that spans more than 120 different countries. For more information please visit: http://www.celltrionhealthcare.com/
1 Delivering on the potential of biosimilar medicines—The
role of functioning competitive markets IMS institute for healthcare
2 Cohen H, Beydoun D, Chien D, et al. Awareness, Knowledge, and Perceptions of Biosimilars Among Specialty Physicians. Adv Ther. 2016;33(12):2160-2172.
3 Jacobs I, Singh E, Sewell KL, Al-sabbagh A, Shane LG. Patient attitudes and understanding about biosimilars: an international crosssectional survey. Patient Prefer Adherence. 2016;10:937-48
4 Suh D, Suh DC, Lee SM. PCN69: Budget Impact of Substituting Biosimilar Trastuzumab (CT-P6) In Treating Gastric Cancer and Breast Cancer in 28 European Countries. Poster presented at: ISPOR Europe 2018.
5 NRAS, European Fit for Work Report. Available at www.nras.org.uk/european-fit-for-work-report. [Accessed Aug, 2018].
+44 203 817 6791
+44 203 817 6718
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Velodyne Demonstrates Lidar Solution for Rich Perception Data Collection on NVIDIA DRIVE Platform19.3.2019 04:00:00 EET | Tiedote
Velodyne Lidar, Inc. today announced its surround-view lidar solutions for collecting rich perception data in testing and validation are available on the NVIDIA DRIVE™ autonomous driving platform--allowing full, 360-degree perception in real time, facilitating highly accurate localization and path-planning capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190318005791/en/ Proven through learning from millions of road miles, Velodyne sensors help determine the safest way to navigate and direct a self-driving vehicle. (Photo: Business Wire) Velodyne sensors’ characteristics are also available on NVIDIA DRIVE Constellation™, an open, scalable simulation platform that enables large-scale, bit-accurate hardware-in-the-loop testing of AVs. The solution’s DRIVE Sim™ software simulates lidar and other sensors, recreating a self-driving car’s inputs with high fidelity in the virtual world. “Velodyne and NVIDIA are at the f
Western Union Teams Up with Thunes to Expand Payout Capabilities to Mobile Wallets19.3.2019 04:00:00 EET | Tiedote
Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement, has teamed up with Thunes, a cross-border payments network for emerging markets, to enable Western Union customers to send funds directly into mobile wallets around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190318005639/en/ Senders can now utilise Western Union’s growing digital network or an agent location to send funds directly into a recipient’s mobile wallet. “We are continuously expanding and enhancing our account payout portfolio, providing customers with multiple payout options including bank accounts, cards or mobile wallets,” said Sobia Rahman, Global Head of Account Payout Network for Western Union. “Our goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions.” The collaboration will enable greater financial access for consumers - especially those who lack
Kohler Celebrates the Details of Design at Milan Design Week 201919.3.2019 03:22:00 EET | Tiedote
Kohler, a global lifestyle brand, returns to Milan Design Week to host an enticing sensory experience inside the historic Palazzo Del Senato (via Senato, 10, 20121 Milan, Italy). The large-scale immersive exhibit showcases Kohler’s bold approach to design and the brand’s most stunning products through an artful combination of water, technology, texture, and color. The installation will be open April 9 through April 13 from 10am – 7pm daily. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190318005858/en/ The large-scale immersive exhibit showcases Kohler’s bold approach to design and the brand’s most stunning products through an artful combination of water, technology, texture, and color. The installations feature global debuts of products from KOHLER, KALLISTA, ANN SACKS and ROBERN. (Photo: Business Wire) “Milan Design Week is the ultimate celebration of creativity and innovation among the global design community,” said Jim
ams and Wise Road Capital Advance Further Development for Environmental, Flow and Pressure Sensors Through Creation of a Joint Venture19.3.2019 03:09:00 EET | Tiedote
ams (SIX: AMS), a leading worldwide supplier of high performance sensor solutions, and Wise Road Capital, a global Private Equity firm focusing on the semiconductor industry and other emerging high-tech industries, announce today that they have signed an agreement to create a joint venture to advance the development and sales of environmental, flow and pressure sensor solutions for the global market. Under the agreement, employees, IP, sensor products and solutions and related customers will transfer from ams to the joint venture, while Wise Road Capital will provide its expert joint venture guidance, deep market knowledge and strength in channel and customer relationships, especially in China. ams will transfer its current environmental sensor solution portfolio covering air quality, relative humidity and temperature sensing, which are used in automotive, smart building and air quality monitoring infrastructure applications. In addition, the ams ultrasound-based flow sensor solutions,
The We Company FY 2018 Financial Results Conference Call19.3.2019 02:44:00 EET | Tiedote
WeWork Companies Inc. (the “Company”), as issuer of its 7.875% Senior Notes due 2025 (the “Senior Notes”), will hold a conference call on Monday, March 25, 2019, at 5:00 P.M. Eastern Time for the benefit of certain qualified participants in order to discuss the Company’s financial results for the fiscal year 2018. Current holders and beneficial owners of the Senior Notes, bona fide prospective purchasers of the Senior Notes who are qualified institutional buyers (as defined in Rule 144A under the Securities Act of 1933) or non-U.S. persons (as defined in Regulation S under the Securities Act of 1933), securities analysts, and market-making financial institutions may gain access to the call information for the conference call by registering on the Company’s secure website at investors.wework.com. Additional information about the call (including dial-in number) will be provided on the secure website. Parties requesting access to the Company’s secure website will be required to provide ce
FANCL Regains Control of Their IT Roadmap by Switching to Rimini Street Support for its SAP Application19.3.2019 02:00:00 EET | Tiedote
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that FANCL, a leading additive-free cosmetics and health food products company in Japan, has switched to Rimini Street support for its SAP ECC 6.0 system. Rimini Street has enabled FANCL to take full control of their ERP roadmap and chart its direction based on the company’s business needs -- like advancing their digital transformation initiatives -- versus continuing to follow a vendor-dictated roadmap. Additionally, FANCL now receives premium-level, ultra responsive support for its current, stable SAP system for a minimum of 15 years from the time the company transitioned to Rimini Street. The company also immediately realized savings of 50 percent in annual support fees. FANCL is able to reinvest this significant cost saving into updating and modernizing the company’
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme