A biosimilar medicine is a biological product highly similar to an already approved biological medicine, known as the reference medicine. Unlike generic medicines, which are chemically identical to their brand-name counterparts, biosimilars are not exact copies due to the complexity of biological molecules. However, they demonstrate no clinically meaningful differences in terms of safety, purity, and potency from the reference product.
Biosimilars undergo thorough analytical, non-clinical, and clinical studies to establish similarity and demonstrate comparable efficacy and safety profiles. They offer an opportunity to expand patient access to essential biologic therapies while potentially reducing healthcare costs.
Biosimilars provide a unique opportunity to help manage the growing costs of biological medicines on the PBS. They offer therapeutically equivalent and cost-effective alternatives to existing brands of biological medicines. This means that savings can be made, or more patients can be treated within the same budget.
Biological medicines are used to treat a range of conditions from cancer and diabetes to arthritis and auto-immune diseases. They are expensive, are being increasingly prescribed by doctors and therefore are now the fastest growing segment of PBS expenditure.
Dr Paul Cornes
In November 2016 GBMA hosted Dr Paul Cornes, an oncologist from Bristol who came to Australia to encourage doctors and policy makers to embrace the patient and health system opportunities that exist with biosimilars. He came to share his experience in international best practice as a key to advancing future care. To read a comprehensive interview with Paul featured in PharmaDispatch simply click on this link Dr Paul Corners, Oncologist
For further information on Biosimilars simply click here to be taken directly to the GBMA Guide to Biosimilars