Biosimilars can save eight EU countries up to 33 billion euros on health care by 2020

By 2020, eight countries in the European Union could save a cumulative total of between 11.8 billion euros ($15.2 billion) and 33.4 billion euros ($4.38 billion) on their health care spending through the use of biosimilar medicines. Faster access and interchangeability between reference drugs and biosimilars is seen as critical to realizing savings.

Published in the German medical industry trade magazine Monitor Versorgungsforschung, this new IGES study, titled Saving money in the European healthcare systems with biosimilars, follows a 2008 study focused specifically on Germany. Commissioned by Sandoz – the generics subsidiary of Swiss drug major Novartis (NOVN: VX) - and conducted by the Berlin-based IGES institute, the new study calculated the amount of expected savings from introducing biosimilars to eight countries in the European Union: Germany, France, the UK, Italy, Spain, Sweden, Poland and Romania.

“This new IGES study highlights the value and importance of biosimilars for the future of health care,” says Ameet Mallik, Sandoz’ head of biopharmaceuticals and oncological injectables, adding: “From our own experience as the pioneer and leader in biosimilars, we have witnessed how the use of biosimilars can increase patient access and reduce expenditures on biologics.”