19 NOVEMBER 2024364 million patient days since the first biosimilar launch in 2015. This includes 150 million more patient days of biologic therapy due to the availability of biosimilars. Biosimilar research and development have been exceedingly active. As a result, more than one hundred biosimilars are currently under development. Biosimilar development is expanding beyond cancer care medications into new therapeutic classes, such as ophthalmology, endocrinology, bone health, and immunology. However, biosimilar adoption rates vary among therapeutic classes. The adoption rate for both curative and supportive cancer care biosimilars is much higher than the rate for immunology and ophthalmology biosimilars. The highly anticipated Humira biosimilar launches did not bring significant adoptions. Nine biosimilars to Humira were launched in 2023, but all those biosimilars together accounted for only 2 percent of the market share of this molecule last year. Payer preferences have been one of the biggest challenges for biosimilar utilization. Although the acceptance of biosimilars in the US is slow compared to the European Union, the pace is increasing. For example, more payers favor biosimilars over the brand name Humira in the new year. CVS has confirmed that its health plans will favor Hyrimoz, a biosimilar to Humira, in 2024. Archimedes went a step further. They implemented the Biosimilar First program in January 2024. The program removed Humira from its formulary and, instead, preferred the lower-cost biosimilars. This program offers Archimedes patients biosimilars at more than 65% lower cost compared to the brand name Humira. This trend is expected to continue. IQVIA projected savings of up to $180 billion by 2027 from the utilization of biosimilars in oncology, hematology, immunology, and many other therapeutic areas. In summary, biosimilar utilization has reduced biologic medication spending, improved health system financial sustainability, lowered patient out-of-pocket costs, and contributed to more affordable access to critical biologic medications. Health System pharmacy leaders should develop and implement innovative biosimilar utilization programs to improve the adoption of biosimilars and increase financial sustainability. Health System pharmacy leaders should develop and implement innovative biosimilar utilization programs to improve the adoption of biosimilars and increase financial sustainability
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