Communicating the value of a biosimilar to global payers
Developing a compelling value proposition which is supported by robust evidence in a global value dossier, budget impact model and payer value slide decks
Our client was developing two new biosimilars for use across different immunology indications. However, despite the advantages of biosimilars in terms of their cost effectiveness to healthcare systems, payers and physicians were generally unfamiliar with these new products and therefore clear and compelling value communication and economic models were required to illustrate the benefits of these products.
Furthermore, it was also anticipated that the biosimilars could be used to drive down the price of the originator branded product – but without a large uptake in the biosimilar product, the advantages of this approach were through to be limited for the biosimilar manufacturer.
Demonstrating the value of a biosimilar product required a tailored approach which was different to traditional branded pharmaceutical value communication. Based on our experience and expertise in the area, we:
- Identified the need for a succinct introduction to the biosimilar market and the benefits of supporting biosimilar uptake, communicated via a payer-focused presentation.
- Developed a core value story which could be adapted for local markets, to emphasise the clinical equivalence of the biosimilar to the originator product and to highlight the advantages and cost savings that could be achieved through the biosimilars in the relevant patient populations.
- Constructed a robust value dossier for each product which contained all the relevant data to support the value messages, and extrapolated to other indications (beyond the primary indication) to provide local affiliates with extensive evidence for reimbursement submissions.
- Developed a simple budget impact model to communicate the economic value and overall budget savings of introducing a biosimilar to the market, adaptable for national, regional and local payers.
Value to the client
Our client had a robust range of tools which highlighted the value of biosimilars in the market and the need for payers to encourage their uptake alongside the originator products for a sustainable biosimilar market which benefits payers, physicians, and patients – creating a win-win situation for our client.
This was supported by robust evidence to demonstrate both the clinical equivalence and the economic benefit of the client’s biosimilars.