EE505 Canada's Evolving Market for Biosimilars and What It Means for Payers

Abstract

Potential savings from biosimilars are a subject of keen interest internationally, with a particular relevance for Canadians. Canada is a relatively high-use and high-price market for biologics and the increased use of biosimilars offers a significant opportunity for cost savings for Canadian payers. Recent policy changes to promote biosimilar switching are expected to result in significant cost reductions for these classes of biologics in Canada, helping to offset the pressure from new higher-cost medicines in coming years. As these initiatives are implemented at the provincial level, Canada offers a unique model to observe the impacts of variations in approach and timing across jurisdictions. The analysis aims to identify potential opportunities in the Canadian biosimilars market in comparison with international practices.